TROY, MICH. — Troy-based L. Mason Capitani CORFAC International has negotiated the sale of the 25,000-square-foot Haverhill Office Complex, located at 2950 W. Square Lake Rd. in Troy. Also on the property is an active cell tower. The buyer plans to renovate the building. Mason Capitani and Gary Grochowski of L. Mason Capitani CORFAC International represented the seller in the transaction and procured the buyer, LSTC California. The asking price for the property was $1.8 million.
MILWAUKEE — The Redmond Co. has finished renovations for the 21,000-square-foot Silver Terrace Shopping Center, located at 5803 W. Silver Spring Dr. in Milwaukee. The project included exterior facade improvements such as new storefronts, masonry, EIFS and roofing. Interior improvements included relocation of existing tenants into new spaces and preparations for a new AutoZone.
OMAHA, NEB. — Bob Chalupa of Omaha-based Q10 — Daisley Ruff Financial Corp. has arranged $9.6 million in permanent financing for the 114-unit Pinhook Flats, located at 6440 Cedar Plaza in Omaha in the Aksarben redevelopment. In addition to the apartment units, the property contains five commercial bays and an underground parking garage. The 10-year loan has a 30-year amortization schedule.
SIOUX CITY, IOWA — NorthMarq Capital has arranged $3.27 million in first mortgage financing for the 84-unit Barrington Park Apartments, located at 3632 Glen Oaks Blvd. in Sioux City. John Bendon of NorthMarq's Omaha, Neb., office secured the 10-year loan with a 30-year amortization schedule through Freddie Mac.
WATERFORD, MICH. — Jeffrey Kaftan of Southfield, Mich.-based Kaftan Communities has been appointed by Judge Denise Langford Morris as receiver of the 62-unit Cooley Village Townhomes, located at Cooley Lake and Hiller roads in Waterford. The company manages 27 multifamily communities and commercial properties in Michigan.
CHICAGO — Walsh Construction Co. has broken ground on the $13 million, 77-unit Wellness Center of County Club Hills, an affordable housing community, located in the South suburbs of Chicago. In addition to the housing units, the Wellness Center will have a full range of support services including case management, employment, health and a teaching kitchen for potential service industry workers. South Suburban PADS (Public Action to Deliver Shelter) and Turnstone Development are the developers on the project.
INDIANAPOLIS — Indianapolis-based Tikijian Associates has negotiated the sale of the 240-unit Thompson Village Apartments, located on Thompson Road in Indianapolis. Tikijian Associates represented New York-based The Embassy Group, the seller, in the transaction. The buyer was Indianapolis-based Gene B. Glick Family Housing Foundation. The asking price was $9.5 million.
KALAMAZOO, MICH. — Beech Street Capital has arranged an $8.4 million conventional loan for the acquisition of the 320-site Country Village Acres, a manufactured housing community in Kalamazoo. Damon Reed of Beech Street's Birmingham, Ala., office secured the 7-year loan with a 30-year amortization schedule through Fannie Mae.
DES MOINES, IOWA — NorthMarq Capital has secured $5.05 million in first mortgage financing for the 274,332-square-foot Washington Avenue Complex, an industrial property located at 1550 and 1600 E. Washington Ave. in Des Moines. Gary Rifkin of NorthMarq's Omaha, Neb., office arranged the 7-year financing with a 25-year amortization schedule through American National Insurance Co. on behalf of the borrower, DM Washington.
ELGIN, ILL. — Wheel Pros has signed a 32,122-square-foot lease at a 250,000-square-foot building, located at 2554 Northwest Pkwy. in Elgin. Elise Couston of Chicago-based Paine/Wetzel — ONCOR International and Casey Mungo of Daum Commercial's Gardena, Calif., office represented the tenant in the transaction. David Liebman of Cassidy Turley's Rosemont, Ill., office represented the landlord.