INDIANAPOLIS — Dougherty Mortgage has arranged a $6.7 million HUD 223 (f) loan to refinance Fountainhead Apartments, a 176-unit market rate rental townhome property in Indianapolis. Dougherty’s Minneapolis office arranged the 35-year loan with a 35-year amortization schedule for the borrower, Fountainhead Associates LLC. The complex includes individual outside entrances to each apartment, seven different floor plans, a tennis court, swimming pool, sand volleyball court, lighted dog run and washers and dryers.
Midwest
CHICAGO — Essex Realty Group Inc. has brokered the $4.7 million sale of 3355 N. Clark St. in Chicago. The mixed-use elevator building is located in Chicago's Wrigleyville neighborhood. The property includes eight condo apartments, two 1,200-square-foot street retail spaces, a garage and parking spaces. Jim Darrow and Jordan Gottlieb of Essex Realty represented the undisclosed buyer and seller in the transaction.
BOLINGBROOK, ILL. — ML Realty Partners LLC has acquired a 56,931-square-foot industrial building in Bolingbrook for an undisclosed price. The distribution facility is located at 650 S. Schmidt Road and will be available for lease immediately. The property has highway visibility along I-55. Terry Grapenthin and Jeffrey Galante of Lee & Associates represented ML Realty Partners in the acquisition and will be responsible for the leasing of the building.
FARMINGTON HILLS, MICH. — L. Mason Capitani/CORFAC International has arranged the sale of a 38,000-square-foot office/flex property in Farmington Hills. The asking price for the property was for approximately $3.9 million, but the final sales price was undisclosed. The property is located at 27675 Halsted Road. JOT II LLC, a local investor, purchased the property from the seller, Halsted Investments, LLC. Michigan-based L. Mason Capitani collaborated with TRI Commercial, its CORFAC affiliate in San Francisco, Calif., to list and market the property.
CHICAGO — J.C. Anderson Inc. has completed an office build-out for The Camden Group at 29 N. Wacker Drive in Chicago. The firm, which provides management and consulting services to the health care industry, is relocating its Chicago offices from 155 N. Wacker Drive to this location. The 9,000 square foot build-out on the 10th floor includes conference rooms, private offices and a server room. The office also features exposed ceilings, new light fixtures, luxury vinyl tile flooring with wood planking, mechanical and electrical upgrades and new flooring. William Burfeind of J.C. Anderson was the project executive and Jason Hawkins of J.C. Anderson was the project manager. Horn Design provided architectural services.
LOMBARD, ILL. — NAI Hiffman has arranged an office lease of 16,691 square feet in Lombard. Veolia Water Solutions will occupy the space within the Butterfield Centre located at 700 East Butterfield Road. The property consists of two class A buildings totaling 280,672 square feet and includes covered parking, a conference facility with auditorium, a food service area and fitness center. Mike Van Zandt and Brian Edgerton of NAI Hiffman’s Office Services Group represented Travelers Insurance in the transaction. David Tropp and Jon Springer of CBRE represented Veolia Water Solutions.
SOUTH BEND, IND. — Wellbrooke of South Bend The Center for Health and Wellness has opened. The new facility located at 52565 State Road 933 provides post-acute care (short-stay rehabilitation and therapy) and assisted living services. The new center is the latest joint venture between Mainstreet and Live Care Services. The 100-bed, 66,560-square-foot Wellbrooke of South Bend features a movie theater, game room and walking trails, as well as restaurants, an on-site chef, a reflection room and more. The project represents a total investment of $14.2 million in the community. Carmel, Ind.-based Mainstreet developed the center. Life Care Services of Greenwood, Ind. will manage the property.
MILWAUKEE — Zilber Property Group has acquired six industrial buildings from CenterPoint Properties in Milwaukee for an undisclosed sales price. Totaling more than 202,000 square feet, the properties are located near the General Mitchell International Airport. The portfolio includes a combination of single-tenant and multi-tenant buildings. RPF Commercial Inc. represented the seller and will continue to market on behalf of Zilber Property Group.
HUNTLEY, ILL. — Entre Commercial Realty LLC has arranged the sale of a new 40,000-square-foot industrial building in Huntley for an undisclosed price. The property is within Huntley Corporate Park located at 13700 George Bush Court. The new build-to-suit facility is situated on 2.4 acres and features 24-foot clear heights with four exterior docks. Cargo Equipment, a 52-year-old manufacturer of load securement equipment and supplies, will relocate from 640 Church Road in Elgin to this new location. Entre’s Dan Benassi and Mike Gazzola represented the developer, Reiche Construction. Bruce Granger of NAI Hiffman represented the buyer, Cargo Equipment.
AUBURN HILLS, MICH. — L. Mason Capitani/CORFAC International has arranged the sale of a 6,122-square-foot industrial building in Auburn Hills. Daedong North America, a manufacturer and distributor of tractors, UTVs, attachments and implements, purchased the property for an undisclosed sales price. The building is located at 1265 Doris Road. Gary Grochowski of L. Mason Capitani represented the buyer.