CHICAGO — Crews have broken ground on a new office for Sarah's Circle, a social services agency, at 4836 N. Sheridan Road in Chicago. The agency supports women who are homeless or at risk of homelessness. The 14,000-square-foot building will house a daytime program, office space for housing services, case management and clinical services, and 10 apartments for women with a history of chronic homelessness. Features will include new offices, bathrooms, an elevator and full kitchen area. Summit Design + Build will construct the facility and Mayber Brown and Perkins + Will will design the project.
SALINA, KAN. — Mark One Capital, a subsidiary of Marcus & Millichap Capital Corp., has arranged a $1.5 million loan for the purchase of a single-tenant property occupied by a Chili's franchisee in Salina. Farhan Kabani of Mark One arranged the 10-year loan, which contains a 25-year amortization schedule. The interest rate is fixed at 4.9 percent.
FRANKENMUTH, MICH. — Sabre Health Care REIT, based in Irvine, Calif., has acquired a 249-unit independent living facility in Frankenmuth for $26.5 million. Concurrent with the purchase, Sabre entered into a triple-net lease with affiliates of Unified Acquisitions and Development. The lease has an initial term of 10 years with two, five-year renewal options.
ESCANABA, MICH. — The new, $11 million Doctors Park medical office building has opened in Escanaba. The 43,145-square-foot property is located on a 5.5-acre site at 710 S. Lincoln Road. The facility replaces Marquette General's smaller Doctors Park building near Seventh Avenue, and allows the health system to expand services to Delta County residents. The medical office features a laboratory, home infusion, oncology, primary care, imaging, a blood donor center, administrative offices and other services. Duke Realty, which developed and financed the project, will own and manage the building. BSA Life Structures was the architect.
EDEN PRAIRIE, MINN. — Dougherty Mortgage has arranged a $21.3 million loan for the refinancing of The Colony at Eden Prairie, a 164-unit assisted living facility in Eden Prairie. SE Rolling Hills owns the property, which is managed by The Waters Senior Living. Dougherty arranged the 40-year loan through the HUD Lean 232/223(a)(7) refinance program. The financing contains a 40-year amortization schedule.
KANSAS CITY, MO. — MMA has acquired Market Station, a 323-unit upscale apartment community in Kansas City. The property, developed in 2010, is located in the River Market area, a riverfront neighborhood north of the city's central business district. Amenities include a resort-style swimming pool with spa, grill stations, a fitness center and views of the Missouri River.
INDIANAPOLIS — Ascension Health Ministry Service Center has acquired a 150,000-square-foot office building at 4040 Vincennes Circle in Indianapolis. The seller was Eleven Fortune Park LP, a subsidiary of the IBUS Co., who has owned the building since 1989. Ascension Health, a Catholic and nonprofit health system, is the primary tenant in the building, which was renovated in 2011 for its use. Rebecca Wells and Jon Owens of Cassidy Turley and Ronald Foster of Echelon Realty Advisors represented the seller in the transaction. The buyer was self-represented.
COLUMBUS, OHIO — Pace Financial Group has arranged $8.6 million in financing for Waterloo Crossing, a 91,254-square-foot retail center in Columbus. PNC Bank provided the loan to the borrower, the Casto Group.
AURORA, ILL. — Magnetrol has purchased a 220,000-square-foot industrial building within the Meridian Business Campus at 705 Enterprises St. in Aurora. Situated on 10 acres, the facility includes 300,000 square feet of Class A office space, 20 interior docks and contains a 22-foot clear ceiling height. Eric Tresslar of NAI Hiffman represented the seller, GCR Corp., in the transaction. David Friedland of Newmark Grubb Knight Frank represented the buyer.
AURORA, ILL. — ROC Inc. has acquired a 69,630-square-foot flex building at 3600 Thayer Court in Aurora. The single-story building is located five miles from Interstate 88 and is 7 percent leased. The building features two exterior docks, three drive-in doors and 18-foot clear ceilings heights. Adam Tarantur and Randy Podolsky of Podolsky Northstar CORFAC International represented the seller, Jefferson-Pilot Investments, in the transaction. Dave Prioletti of CBRE Group represented the buyer.