INDIANAPOLIS — Strategic Capital Partners, through its Strategic Partners Urban Development Group, has acquired Timber Ridge Apartments in Indianapolis for an undisclosed price. The 26-building property offers 286 apartment units. The buyer plans to demolish the property and incorporate the site into the master plan of Avondale Meadows. Avondale Meadows is a community redevelopment of the city’s Meadows area. The property will feature more than 800 mixed-income apartments, townhomes and single-family homes, a grocery store, retail space, a 5-acre park, a community center, and walking and biking paths. Additional details about the transaction were not disclosed.
Midwest
INDIANAPOLIS — Strategic Capital Partners, through its Strategic Partners Urban Development Group, has acquired Timber Ridge Apartments in Indianapolis for an undisclosed price. The 26-building property offers 286 apartment units. The buyer plans to demolish the property and incorporate the site into the master plan of Avondale Meadows. Avondale Meadows is a community redevelopment of the city’s Meadows area. The property will feature more than 800 mixed-income apartments, townhomes and single-family homes, a grocery store, retail space, a 5-acre park, a community center, and walking and biking paths. Additional details about the transaction were not disclosed.
CHICAGO — Metal fabricator 4800 S. Hoyne Corp. has purchased a 137,688-square-foot crane facility in Chicago. Located at 2310 W. 58th St., the property sold for an undisclosed price. Matt Rogatz of Chicago Industrial Real Estate represented the buyer; Mark Nelson, Mike Nelson and Ed Wabick of Paine/Wetzel • ONCOR International represented the seller, Great Western Realty, in the transaction. The acquisition price was not disclosed.
CHICAGO — Metal fabricator 4800 S. Hoyne Corp. has purchased a 137,688-square-foot crane facility in Chicago. Located at 2310 W. 58th St., the property sold for an undisclosed price. Matt Rogatz of Chicago Industrial Real Estate represented the buyer; Mark Nelson, Mike Nelson and Ed Wabick of Paine/Wetzel • ONCOR International represented the seller, Great Western Realty, in the transaction. The acquisition price was not disclosed.
ST. LOUIS — Net Lease Holdings has acquired an industrial space in St. Louis in a $2.72 million sale-leaseback transaction. STL Craigshire sold the 36,561-square-foot industrial space, which is located at 1940 Craigshire Road. Vernon Martens and Faith Martens of Grubb & Ellis|Gundaker Commercial, along with Colliers Turley Martin Tucker, represented the seller in the transaction.
ST. LOUIS — Net Lease Holdings has acquired an industrial space in St. Louis in a $2.72 million sale-leaseback transaction. STL Craigshire sold the 36,561-square-foot industrial space, which is located at 1940 Craigshire Road. Vernon Martens and Faith Martens of Grubb & Ellis|Gundaker Commercial, along with Colliers Turley Martin Tucker, represented the seller in the transaction.
GRAND RAPIDS, MICH. — Berkadia Commercial Mortgage has originated an $11.65 million loan for the refinancing of Bayberry Pointe Apartments in Grand Rapids. David Sibbold and Ernie Katai of Berkadia’s Detroit office originated the fixed-rate financing, which has a 10-year term and a 30-year amortization. The borrower is Bayberry Apartments LLC. The loan was financed through Freddie Mac.
ST. LOUIS — First National Bank of St. Louis has purchased 15,000 square feet of office space at 12232 and 12224 Tesson Ferry Road in St. Louis. Hoffman Group sold the property for $1.57 million. Andrew Bagy and David Biales of Grubb & Ellis|Gundaker Commercial represented the buyer in the transaction.
MILWAUKEE — Women’s Care Center Inc. has acquired a 3,700-square-foot property that is located on Milwaukee’s east side. The buyer plans to relocate its offices to the building, which is the former Blue Dawg Bagels. David Barry and Max Yokosh of Colliers Barry’s Milwaukee office brokered the transaction. The acquisition price was not disclosed.
LORAIN, OHIO — Lorain-based American Eagle Mortgage Co. (AEMC) has entered into an agreement to acquire the assets of Real Estate Mortgage Corp. (REMC). The acquisition adds three locations to AEMC’s portfolio in the Cleveland market, including Rocky River, Beachwood and Twinsburg. Current president of REMC, Mark Johnston, will continue as vice president at AEMC. Details of the transaction were not disclosed.