CHICAGO — Dallas-based Behringer Harvard has closed on $340 million in financing for its Behringer Harvard REIT I Inc. The secured credit includes a $200 million loan and a $140 million revolving credit facility, each with a three-year term and two one-year extension options. The $340 million will be used to refinance 10 & 120 S. Riverside Plaza in Chicago. KeyBanc Capital Markets and J.P. Morgan Securities arranged the credit facility on the deal.
BELLEVILLE, ILL. — In a joint venture, Cerulean Partners LLC and an entity associated with The Inland Real Estate Group of Companies, has purchased the Atrium of Belleville, a 76-unit senior living community in Belleville, Ill. for $2 million. The Atrium, formerly known as Grand Court, was previously owned by Brookdale Senior Living Inc. Cerulean, based in Chicago, plans to invest $1.5 million in property improvements.
ST. LOUIS — Trane USA Inc. has leased 67,848 square feet of industrial space at Trade Center V, located at 13899 Corporate Woods Trail in St. Louis. Vince Bajardi and Jake Corrigan of the Sansone Group's St. Louis office represented the owner in the transaction. Trane USA was self-represented.
PONTIAC, MICH. — Colliers International has arranged the sale of a 24,000-square-foot athletic center, located at 124 W. Columbia Ave. in Pontiac, Mich. for $200,000. Gary Gruskowski of Colliers International's Michigan office represented the seller, Boys and Girls Clubs of Southeastern Michigan in this transaction. The buyer was Stars Place Inc.
OMAHA— Omaha-based Darland Construction Co. recently completed construction of the Harold M. and Beverly Maurer Center for Public Health at the University of Nebraska Medical Center campus in Omaha. The 62,600-square-foot, three-level building cost a reported $15 million. The facility includes 106 offices and an 80-seat, theater-style classroom. The facility was designed by Alley Poyner Macchietto Architecture and Adam Simpson of Darland was the project manager.
GLENDALE, WIS. — Grandbridge Real Estate Capital has originated and closed a $2.9 million first mortgage loan secured by a medical office building. The loan refinanced an existing full-recourse bank loan. Located in Glendale, Wis., the 25,044 square foot building was built in 2003. Rob Meister of Grandbridge's Milwaukee office arranged the 10-year fixed rate loan through American Equity Investment Insurance Co.
PRAIRIE VILLAGE, KAN. — Jos. A. Bank, a national clothing line, opened a new location at The Village in Prairie Village, Kan. Justin Kaufmann of LANE4 Property Group, Inc. the leasing and management company for the shopping center, negotiated the lease for the 3,667 square foot space, located at 3925 W. 69th Terrace.
CHICAGO — Beech Street Capital LLC has provided $12.9 million in Fannie Mae loans to refinance four properties located within the Rogers Park and Lakeview neighborhoods of Chicago. The transaction was originated by Gershon Friedman of Meridian Capital Group LLC, and was financed by Beech Street Capital. The 10-year-loan has a 30-year amortization schedule. Totaling 230 multifamily units and one commercial space, the portfolio consists of low-rise, brick buildings constructed in the mid-1920s.
GROVEPORT, OHIO — Rancho Dominguez, Calif.-based Union Supply Co. has signed a long-term lease agreement for 315,534 square feet in building seven at Opus Business Center in Groveport, Ohio. Rick Trott, Mike Hurd and Kevin McGrath of Cassidy Turley represented the building owner, Opus Development Corp., in the transaction. San Diego-based McKinney Brokerage Group represented Union Supply Co.
OVERLAND PARK, KAN. —Johnson Capital has closed four loan transactions totaling more than $10 million for four commercial properties in Kansas and Missouri. In Kansas City, Mo., Thomas Cohen and John Schorgl arranged a $3 million note on Metro Plaza Retail Center, a 90,000-square-foot retail center. Proceeds from the bank-financed loan were used to renovate and upgrade the center. The loan carries an initial interest-only period which converts to a five-year term with a 25-year amortization schedule. In Topeka, Kan., Cohen and Schorgl arranged $3.3 million in financing for White Lakes Plaza, a 144-unit multifamily property. The loan carries a five-year term and 25-year amortization schedule. In St. Joseph, Mo., Johnson Capital arranged a $1.5 million bank-financed loan on Gene Field Apartments, a 107-unit, multifamily property. The 10-year loan has a 25-year amortization schedule. The proceeds of the loan were used to refinance existing debt and reduce the interest carry. In Riverside, Mo., Cohen and Schorgl placed a $2.6 million note with a local bank for Northcrest Apartments, a 140-unit multifamily property. Proceeds from the loan were used to refinance existing debt. The interest rate is fixed for the first five years and then reset after the fifth year.
