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.
CHICAGO — A 32-unit apartment building, located at 7381-89 N. Damen in Chicago, has been sold for $1.61 million. Doug Imber and Doug Fisher of Chicago-based Essex Realty Group represented both parties in the transaction.
AUBURN HILLS, MICH. — Fifth Third Bank has sold 176,130 square feet of industrial space, located at 3500-3900 Joslyn Rd. in Auburn Hills, to TD Joslyn Road for an undisclosed price. Paul Hoge of Southfield, Mich.-based Signature Associates represented the buyer in the transaction, and Southfield-based The Farbman Group represented the seller.
SKOKIE, ILL. — Jeff Cherner of NorthMarq Capital's Chicago office has arranged $6 million in first mortgage financing for a 61,000-square-foot office building, located at 5500 Howard St. in Skokie. The 10-year financing has a 20-year amortization schedule and was secured through American Equity Life.