MICHIGAN AND OHIO — CIT Capital and Blue Water Automotive Inc.'s Creditors' Trust has sold a 775,000-square-foot, nine-building industrial portfolio in Michigan and Ohio. Several industrial manufacturing firms purchased the properties independently, which will utilize the buildings for a variety of manufacturing and distribution operations. The properties include a 140,000-square-foot building in Port Huron, Mich.; a 136,744-square-foot building in St. Clair, Mich.; a 133,000-square-foot building in St. Clair; a 70,280-square-foot building in St. Clair; a 63,550-square-foot building in Caro, Mich.; a 59,500-square-foot building in Wauseon, Ohio; a 56,296-square-foot building in Marysville, Mich.; a 54,166-square-foot building in Lexington, Mich.; and a 44,120-square-foot building Marysville. Rob Gemerchak, Andrew Harris and Bob Boyle of Binswanger represented the sellers in the transaction.
CHICAGO — Sue Blumberg of NorthMarq Capital's Chicago office has arranged $40 million for the first mortgage refinancing of 100 W. Chestnut in Chicago. The 30-story apartment high-rise contains 280 units and a parking garage. The building is fully occupied. The 10-year, Fannie Mae loan has a 30-year amortization schedule. The borrower is Great Lakes Property Group Trust.
NOVI, MICH. — Healthcare Trust of America (HTA) has purchased a 203,000-square-foot, on-campus medical office building in Novi for $51.3 million. The St. John Providence medical office building is connected directly to the Providence Park Hospital via an enclosed walkway. Developed and owned by a group of independent physician investors since 2007, the building is currently 99 percent leased. The addition of the asset increases HTA's presence into 26 states.
RICHMOND, IND. —Chicago-based Perpetual Recycling Solutions has acquired the former 100,000-square-foot Amcast General Aluminum facility in Richmond. The company plans to invest $25 million in new equipment for its recycling facility. Tim Echemann of Industrial Property Brokers represented the seller, Park Ohio, in the transaction. The purchase price was undisclosed.
BUFFALO GROVE, ILL. —Grandbridge Real Estate Capital and Mesirow Financial Institutional Real Estate have arranged a $22.2 million first mortgage loan for Windbrooke Crossing, a 236-unit apartment community in Buffalo Grove. Jim Cope and Justin Nelson of Grandbridge Real Estate arranged the loan through Freddie Mac. The 7-year loan carries a 4 percent interest rate.
CHICAGO — Sue Blumberg of NorthMarq Capital's Chicago office has arranged $20.1 million for the first mortgage refinancing of River West Lofts, located at 901 W. Huron in Chicago. The 151,480-square-foot residential loft building contains 158 units. Freddie Mac provided the 10-year loan for the borrower, River West Development. The loan has a 30-year amortization schedule.
OAK BROOK, ILL. — Orlando-based Cuhaci & Peterson Architects has completed the design work to build a new Season 52 restaurant in Oak Brook. The 10,000-square-foot restaurant is now under construction and slated for completion this spring.
WAUSAU, WIS. — 4505 RM LLC has purchased two Wausau properties: an 8,798-square-foot retail building at 4505 Rib Mountain Dr. and a 3,000-square-foot office/warehouse building at 1101 Morning Glory Lane. The buildings sold for a combined $1.5 million. Victor Anderson of Lokre Cos. represented the seller, Lokre Select II LLC. Dan Holvick of Inland Cos. represented the buyer.
NORTHVILLE, MICH. — Wilson Golf has purchased the Arnold Palmer-designed NorthVille Hills Golf Club in Northville. Wilson Golf owns and manages nine courses in the Midwest. Northville is an 18-hole, 7,003-yard course with a 132 slope rating. The 10,000-square-foot club house includes a pro shop, kitchen and 200-person banquet room. Chris Charnas of Links Capital Advisors represented the seller, Capmark Bank, in the transaction. Wilson Golf was represented in-house.
ROMEOVILLE, ILL. — Scannell Properties has selected Meridian Design Build to design and construct a new 239,000-square-foot industrial facility in Romeoville. The new building will serve as a ground distribution and package sorting center for Scannell's tenant, a global provider of shipping and information services. The company plans to invest $37 million in the new facility. The new building will be located within Pinnacle Business Center and construction is slated to be complete in the fourth quarter of this year. The facility will include an automated conveyor system and 101 loading docks. Pete Schmidt will lead Meridian Design Build's project team. Precept Design will provide architectural services.