CHICAGO — Vancouver, B.C.-based real estate developer Onni Group has acquired 200 N. LaSalle, a 30-story office building in Chicago, for a reported $101 million. Younan Properties said it sold the 645,170-square-foot tower as part of its deleveraging strategy to recycle capital and strengthen its balance sheet. Stephen Livaditis and Chang Lee of the Chicago office of Eastdil Secured represented Younan in the transaction.
CHICAGO — Ascent Corp. has secured $107 million in debt financing from a lending group headed by Bank of America Merrill Lynch. The funds will be used to expand the company's newest data center, CH2 in Chicago and enable the company to expand into new markets. Riaz Cassum, Michael Kavanau and Laren O'Neil of HFF served as advisor to Ascent on the deal.
JUNCTION CITY, KAN. — Colorado-based Prescott Family LLC has purchased The Bluffs, a 602-unit apartment complex in Junction City, for $43 million. The 536,236-square-foot property is adjacent to Fort Riley, a U.S. Army post, and includes one-, two- and three-bedroom units. The property is 98 percent leased. Alex Blagojevich, David Gaines, Richard Glinski and Jacob Steele of Marcus & Millichap represented the seller, The Bluffs LLC. Blagojevich, Gaines, Glinski and Steele also represented the buyer.
VAN BUREN TOWNSHIP, MICH. — Visteon Corp. has sold the Grace Lake Corporate Center in Van Buren Township to Sovereign Partners, for $81.1 million. The automotive supplier signed a 15-year lease for 572,000 square feet on the site where its corporate offices and innovation center will continue to be located. Under the agreement, Sovereign Partners will manage the 287-acre property, including all office buildings and a conference facility. The property's other tenants, GE and Dana Holding Corp., each have long-term leases that will remain in effect with the new property owner.
FRANKLIN, IND. — Stag Industrial has acquired a 703,496-square-foot warehouse and distribution facility in Franklin for $17.8 million. The building is fully leased to Anderson Merchandisers, which markets and distributes DVDs, movies and books, among other products. The company has 5 years remaining on its lease. The purchase brings Stag's total 2012 acquisition volume to approximately $65 million.
INDEPENDENCE, MO. — CPH has sold a 50,092-square-foot retail center in Independence for $2.3 million. Tenants include Blockbuster, Goodwill and Papa Murphy's Pizza. The undisclosed buyer plans to redevelop the property and include a new CVS store. Keoni Fursse of Kokua Realty Co. represented the seller in the deal.
CHICAGO — Cohen Financial has arranged an $8.5 million loan for the refinancing of Addison Mall, located at 2921 W. Addison St. in Chicago. The 69,240-square-foot retail center is fully leased to tenants such as Casual Male, Dollar Tree and Foot Locker. Don Trossman of Cohen Financial's Chicago office arranged the 10-year, fixed-rate loan through AIG.
ALTON, ILL. — Marcus & Millichap has arranged the $1.8 million sale of a 3,011-square-foot Burger King, located at 1902 Homer Adams Parkway in Alton, located 15 miles north of St. Louis, Mo.. Edward Benton and John Pryzbyla of Marcus & Millichap's Houston office represented the seller, a developer.
SHREWBURY, MO. — The AFL-CIO Housing Investment Trust (HIT) has arranged $6.6 million in union pension capital to renovate the Holy Infant Apartments and the St. Joseph Apartments, two affordable housing complexes in Shrewbury, located in St. Louis County. The $13 million project by HIT will convert most of the existing apartments into one-bedroom units as well as renovate kitchens as bathrooms. Residents of the complexes are at least 62 years old and have household incomes at or below 50 percent of the area median income. HIT purchased $6.6 million in tax-exempt bonds issued by the Industrial Development Authority for St. Louis County and insured by Ginnie Mae securities to help finance the project.
STOW, OHIO — Stow Professional Building LP has purchased a 38,000-square-foot office building, located at 4500 Courthouse Blvd. in Stow, a suburb of Akron, for $5.7 million. Bill Drinkall of NAI Harding Dahm represented the buyer in the deal. The sellers were Clunk Omni LLC, David B. Gillette Bypass Trust and D. Jeanne Gillette Survivor's Trust.
