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Whispering-Lake-Apartments-Kansas-City-MO
MidwestMissouriMultifamily

MMA Capital Management Sells 384-Unit Multifamily Property in Kansas City, Mo.

by Amy Works

KANSAS CITY, MO. — Baltimore-based MMA Capital Management has completed the sale of Whispering Lake Apartments, a 384-unit multifamily property located in Kansas City. El Dorado Hills, Calif.-based L5 Investments purchased the property with an $11.7 million acquisition loan arranged by Grandbridge Real Estate Capital. Developed in 1989, the 384-unit, garden-style multifamily property features one- and two-bedroom units with balconies or patios. On-site amenities include a swimming pool, clubhouse with lake views, newly remodeled fitness center, outdoor grilling area and an 18-acre lake with fishing dock. Brett Meinzer, Michael Sullivan, Grant Kollman, Alex Blagojevich, David Gaines of Marcus & Millichap represented the seller in the transaction. Paul Harbor of Grandbridge originated the 10-year loan, which features a 30-year amortization schedule and three years of interest-only payments. The financing was arranged through Freddie Mac.

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Beech-Pointe-Apts-Schaumburg-IL
IllinoisLoansMidwestMultifamily

NorthMarq Capital Completes $10M Refinance for Multifamily Property in Illinois

by Amy Works

SCHAUMBURG, ILL. — NorthMarq Capital has arranged $10 million in refinancing for Beech Pointe Apartments, a multifamily property located in Schaumburg. The property features 192 residential units. Sue Blumberg of NorthMarq Capital secured the 10-year loan, which features a 30-year amortization schedule, through NorthMarq’s seller-servicer relationship with Freddie Mac.

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MidwestNebraskaRetail

Investors Realty Inc. Brokers $7M Sale of Two Shopping Centers in Omaha

by Amy Works

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of two shadow-anchored shopping centers in Omaha. The assets, Fort Plaza and Weber Plaza, sold for $7 million. Tenants of the centers include First National Bank, VooDoo Taco, Dollar General, Citi Trends and the Douglas County Treasurer. Ember Grummons of Investors Realty represented the buyer, Baceline Investments LLC, while Erin Pogge and Lindsay Bans of The Lerner Company represented the undisclosed seller in the transaction.

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27450-Gloede-Dr-Warren-MI
IndustrialMichiganMidwest

L. Mason Capitani Arranges Sale of 24,000 SF Property in Michigan

by Amy Works

WARREN, MICH. — L. Mason Capitani Inc. CORFAC has brokered the sale of an industrial property located at 27450 Gloede Drive in Warren. Division 6 Fabrication and Installation acquired the 24,000-square-foot property for an undisclosed price. The buyer plans to use the facility to expand its company needs. Division 6 services the medical, educational, governmental and corporate industries with carpentry and millwork. Andrew Greiner and Jason Capitani of L. Mason Capitani represented the undisclosed seller in the transaction.

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IllinoisMidwestMixed-UseMultifamilyRetail

@properties Commercial Brokers $2.3M Sale of Mixed-Use Property in Illinois

by Amy Works

EAST VILLAGE, ILL. — @properties Commercial has brokered the sale of a mixed-use property located at 1656 W. Chicago Ave. in East Village. Sedgwick Investments acquired the property for $2.3 million from BP Building. The buyer plans to lease the five residential units and the ground-floor retail space. Lizzie Kaplan of Sedgwick Investments provided in-house representation for the buyer, while Michael Weber and Ian Feinerman of @properties Commercial represented the seller in the transaction.

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IllinoisMidwestOfficeRetail

BARBERMurphy Group Arranges Sale of Retail/Office Building in Illinois

by Amy Works

SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a retail and office property, located at 1704 N. Belt West in Swansea, located about 17 miles southeast of St. Louis, Mo. Welzbacher Land Trust sold the 6,012-square-foot property to JHK LLC for an undisclosed price. BARBERMurphy Group represented the seller in the transaction.

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Bethel-Plaza-Columbus-OH
MidwestOhioRetail

12,516 SF Retail Center Sells for $1.6M in Columbus

by Amy Works

COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the sale of Bethel Plaza, a 12,516-square-foot retail center located in Columbus. The property sold for $1.6 million, representing an 8.38 percent capitalization rate, or the annual return to the buyer based on the purchase price and the asset’s current net operating income. Anchored by Papa John’s, the center is 100 percent occupied by a variety of tenants. Dan Cooper of Cooper Commercial represented the seller, a private investment group, and the local buyer in the transaction.

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Westhaven-Manor-Westland-MI
LoansMichiganMidwestMultifamilySeniors Housing

Love Funding Secures $9.1M in Refinancing for Westhaven Manor

by Amy Works

WESTLAND, MICH. — Love Funding has secured $9.1 million in refinancing for Westhaven Manor, a 144-unit, age-restricted apartment community in Westland, a western suburb of Detroit. Love Funding secured the loan through the U.S. Department of Housing and Urban Development’s 223(f) loan insurance program. Proceeds from the loan will be used to upgrade the property with improvements and fund a replacement reserve. Built in 1986, the property is restricted to residents 62 years of age or older. Bruce Gerhart of Love Funding arranged the financing for the undisclosed borrower.

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6422-W-Archer-Ave-IL
IllinoisMidwestRetail

Marcus & Millichap Brokers $7.5M Sale of Retail Property in Chicago

by Amy Works

CHICAGO — Marcus & Millichap has brokered the sale of a retail property located at 6422 W. Archer Ave. in Chicago. The 8,100-square-foot property sold for $7.5 million. The property is net leased to MB Financial Bank. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an individual/personal trust, while Steven Siegel, also of Marcus & Millichap, represented the buyer, a limited liability company.

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IllinoisIndustrialMidwest

Sitex Group Buys 87,219 SF Warehouse Facility in Illinois

by Amy Works

ADDISON, ILL. — Sitex Group has acquired a warehouse/distribution facility located at 350 S. Church St. in Addison for an undisclosed price. Built in 1995, the 87,219-square-foot property features an image precast exterior, 13 exterior docks, 27-foot clear ceiling heights and T-5 lighting. Additionally, the property features 1-2,000 amp/480 volt service and 1-1,200 amp/480 volt electrical service. Kelly Disser and Dan Leahy of NAI Hiffman represented the seller, Standfast Group, in the transaction.

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