STILLWATER, MINN. — NorthMarq has arranged $1.7 million in first mortgage financing for Stonebridge Apartments, a 36-unit multifamily property located at 1203 Owen St. in Stillwater. The 10-year loan has a 30-year amortization schedule. Michael Padilla of NorthMarq's Minneapolis office arranged the financing for the borrower through its affiliate Amisphere Multifamily Fianance, a Fannie Mae DUS lender.
LISLE, ILL. — Leopardo Co. Inc. is building a three-story, 95,000 square foot medical office building for DuPage Medical Group in Lisle. Located at 430 Warrenville Rd., the facility will house a cancer center for DuPage Medical Group and Rush University Medical Center, part of a recently announced partnership to bring university-level cancer care to the western suburbs. The building is slated for completion in December 2012.
ROCHESTER, MINN. —The Rochester Marriott Clinic Area, located at 101 First Ave. SW in Rochester, has completed a comprehensive hotel renovation for an undisclosed amount. Weis Builders undertook the construction, which included a renovated lobby, a new concierge level lounge and redesigned rooms.
MISSOURI — American Realty Capital Properties Inc. has acquired a portfolio of 20 freestanding, single-story buildings leased to discount retailer Dollar General for $10 million. Fifteen of the Dollar General stores are located in Missouri, three are in Arkansas, and one store is in Oklahoma and Illinois. The stores total approximately 177,000 square feet.
CHICAGO — Cushman & Wakefield Sonnenblick Goldman's Atlanta office has arranged $25.7 million of acquisition debt financing on behalf of a partnership between AREA Property Partners and DW Management Co. The partnership purchased two industrial assets totaling more than 1 million square feet, including a building at 1075 Taylor Rd. in Chicago. The second building was located in Charlotte, N.C. The 5-year loan was provided by a domestic bank.
MILWAUKEE — Paul Davis National, a firm that specializes in consulting and emergency services for catastrophic disasters, will move its headquarters to Milwaukee in a new 40,000-square-foot building. Paul Davis National will invest $10 million in equipment and the new building, which will be located at 2000 S. Fourth St. The building is slated to open in spring 2012.
ST. LOUIS— Faultless Laundry Co., a Kansas City-based textile rental company, has acquired the 103,000-square-foot industrial building at 1615 N. 25th St. in St. Louis for $2.35 million. Patrick Reilly of Gateway Commercial represented the buyer. Hilliker Corp. represented the seller, Reed Family Investment Group.
KANSAS CITY, MO. — Summit Hotel Properties Inc. (NYSE: INN) has agreed to purchase the 96-room Residence Inn by Marriott in downtown Kansas City for $103,000 per key. The company has also agreed to purchase a 150-room Courtyard by Marriott in downtown Atlanta. The completion of the acquisitions is subject to lender approval.
MINNEAPOLIS, MINN. — NorthMarq Capital's Minneapolis regional office arranged first mortgage refinancing of $7.1 million for the Stadium Village Apartments, a 121-unit multifamily property located in Minneapolis. Daniel Trebil of NorthMarq arranged the financing for the borrower through NorthMarq's correspondent relationship with a bank. The 5-year loan has a 30-year amortization schedule.
MILWAUKEE, WIS. — Jonco Properties LLC has purchased a 23,100-square-foot industrial property, located at 5800 W. Douglas Ave. in Milwaukee, Wis. from Colt Family Partnership. Anthony Huenerbein, Dave Hazenfield, Samuel Dickman, Jr. and Samuel Dickman of The Dickman Co. Inc. brokered the transaction.