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.
ELGIN, ILL. — Milwaukee-based Zilber Property Group has purchased a 125,990-square-foot industrial building, located at 1331 Davis Rd. in Elgin, Ill. for an undisclosed amount. Tenants include Seigle Cabinet Center and Bucher Hydraulics. Ken Franzese and John Cassidy of Lee & Associates represented the seller. Adam Marshall of NAI Hiffman represented the buyer and Bucher Hydraulics.
SOUTH BEND, IND. —Memphis-based Education Realty Trust has purchased Irish Row, a collegiate housing community adjacent to the University of Notre Dame in South Bend, Ind. for $27.5 million in cash. The community consists of 127 units in two-, three-, and four-bedroom styles. The community is fully leased for the 2011-2012 academic year.
COLUMBIA, MO. — Westbrook, Maine-based IDEXX Laboratories Inc. has purchased RADIL, a research and diagnostic laboratory business, from the University of Missouri for $43 million in cash. The deal calls for all employees of RADIL to become IDEXX employees and continue to run the business in Columbia, Mo. IDEXX is an animal health instrumentation and software products company.