PINE LAWN, MO. — Kwame Building Group has completed the new 65,000-square-foot Barack Obama Elementary School, located at 3883 Jennings Station Rd. in Pine Lawn. Kwame provided construction management on the project with general contractor S.M. Wilson and architect TR,i. The school was funded through a portion of a $23 million, no-tax bond issue.
INDIANA — Oakbrook Terrace, Ill.-based Mid-America Real Estate Group and Indianapolis-based Sitehawk Retail Real Estate have formed a strategic partnership. Both independent companies are part of Chainlinks Retail Advisors. The partnership will focus its efforts on Indiana.
CHICAGO — Cambridge Realty Capital Cos. has provided HUD Section 223 (a)(7) loans for eight senior housing communities in the Chicago metropolitan area and downstate Illinois. The properties include: – The 97-unit Centennial South Apartments in Mt. Prospect – The 100-unit Centennial North Apartments in Mt. Prospect – The 80-unit Carmel House Apartments in Zion – The 104-unit Lakeland Apartments in Fox Lake – The 80-unit Forest Apartments in Glen Ellyn – The 115-unit Jefferson House in Macomb – The 110-unit Colonial House Apartments in DeKalb – The 160-unit Vermillion House Apartments in Danville An Illinois limited partnership owns the properties, all of which received fully amortized 39-year loans.
ARLINGTON HEIGHTS, ILL. — A variety of new tenants have signed leases in Arlington Heights, to occupy a total of more than 200,000 square feet of currently empty space. The retailers include: hhgregg, Ross Dress for Less, True Value Hardware, Dollar Tree, Binny's Beverage Depot, Savers, Smashburger, Jersey Mike's, Caribou Coffee, Party City and Cooper's Hawk Winery & Restaurant. All of the stores are anticipating a fall 2011 opening. The Village of Arlington Heights, Centro Properties Group, AmCap, Visconsi Cos. and others secured the tenants.
WISCONSIN AND ILLINOIS — Sabal Financial Group has acquired a $212 million portfolio of more than 100 loans, both performing and non-performing, from a major Midwest retail bank. The portfolio includes primarily retail, office and industrial properties in Wisconsin, Illinois and Florida. Sabal Financial Group has assumed responsibility for loan servicing and asset management.
MINNETONKA, MINN. — NorthMarq Capital has secured $8 million in first mortgage financing for the 52-unit Oaks Glen Lake Apartments, located at 14414 Stewart Lane in Minnetonka. Financing was based on a 7-year term with a 30-year amortization schedule. James Hoopes of the firm's Minneapolis office arranged the loan through Freddie Mac.
CHICAGO — Millennium Properties R/E has negotiated the sale of a 3,860-square-foot mixed-use property, located at 3408 W. Fullerton Ave. in Chicago, for an undisclosed price. The property contains one retail unit and two apartment units. Yan Deng of Keller Williams represented the buyer, Renlin Xia, and Brad Thompson of Millennium Properties represented the seller.
INDIANAPOLIS — Michael Drew of Cassidy Turley's Indianapolis office has arranged the $17.8 million sale of the 336-unit Lighthouse Landings, located at 6640 Heron Neck Dr. in Indianapolis. Drew represented the seller, a local developer. The buyer was a private investor.
TWINSBURG, OHIO — Grubb & Ellis has negotiated the $2.1 million sale of a 98,000-square-foot warehouse facility, located at 2200 E. Highland Rd. in Twinsburg. Terry Coyne of the Grubb & Ellis' Cleveland office represented the seller, 2200 Highland, LLC, and Jeff Kennedy, also of the firm's Cleveland office, represented Refined & Reclined dba Crossroads Furniture & Cleveland Syrup, the buyer, in the transaction.
CINCINNATI — A 4,000-square-foot Buffalo Wings & Rings has opened at Brentwood Plaza, located on the corner of Ronald Regan Highway and Winton Road in Cincinnati. Jeff Piatt of Cincinnati-based Miller Valentine Group represented the tenant in the lease transaction. The landlord, Centro Properties Group, was self-represented by Elizabeth Houser.