TOPEKA, KAN.; AND OMAHA, NEB. — PNC ARCS has provided two loans totaling $4.33 million for the Warren House Apartments Topeka and the Warren House Apartments Omaha. The loans for the two related multifamily properties were based on a 10-year term, with a 30-year amortization schedule at a fixed rate of 5.9 percent. Situated on approximately 7.4 acres, the 160-unit Warren House Topeka houses seven two-story buildings. Amenities at the property include a pool and laundry facilities. Additionally, the Warren House Omaha is a 149-unit garden style complex with nine two-story buildings. Amenities at the Omaha property include a swimming pool, laundry facilities and a parking garage. The loan for both properties was originated by PNC ARCS’ San Francisco office through Fannie Mae.
MANSFIELD, OHIO — NAI Cummins has brokered the sale of a 49,860-square-foot manufacturing facility located in Mansfield. Jones’ Investments and Jones’ Potato Chip Co. have purchased the building from FKI Logistex for an undisclosed amount. The company will use the facility for its snack food operations. Tom Franjesh and Bob Raskow of NAI Cummins represented the seller in the transaction.
GERMANTOWN, WIS. — Petersen Global LLC has purchased 6.5 acres of land within the approximately 200-acre Germantown Business Park, which is located near Highway 41 in Germantown. Petersen Global is building a new 43,000-square-foot manufacturing facility on behalf of Krenz & Co. at the site. Trent Poole, Scott Furmanski and Roger Siegel in the Milwaukee office of CB Richard Ellis represented the buyer; MLG Commercial represented the seller, Village of Germantown, in the transaction. The acquisition price of the property was not disclosed.
HUNTLEY, ILL. — Tucker Development Corp. has secured two leases within its 300,000-square-foot Huntley Grove shopping center, which is located at the intersection of Route 47 and Kreutzer Road in Huntley. Jimano’s Pizzeria has signed a lease for 1,000 square feet within in the center. Additionally, The UPS Store will open in an approximately 1,250-square-foot outlot at the development. The development will be anchored by an approximately 176,400-square-foot Wal-Mart Supercenter, which is slated for completion in April. Terms of the two leases were not disclosed.
BLOOMINGTON, MINN. — United Kingdom-based The Merlin Entertainments Group has purchased Underwater Adventures Aquarium located underneath the 4.2 million-square-foot Mall of America in Bloomington. The Minnesota Aquarium LLC sold the attraction to Merlin Entertainments for an undisclosed amount. Merlin Entertainments is the world’s leading operator of aquaria through its SEA LIFE brand, which includes 28 sites. The company, which has an existing portfolio of six United States attractions, plans to invest $5 million to improve the property that holds more than 1.2 million gallons of water. Los Angeles-based Samuels & Co. is exclusively representing Merlin Entertainments in its expansion in the North American market.
MARYLAND HEIGHTS, MO. — Wakefield, Mass.-based Franklin Street Properties Corp. has acquired a four-story office building located in the St. Louis suburb of Maryland Heights. The 127,000-square-foot facility, which was completed in 2008, is fully occupied. The company purchased the property for $19.75 million.
BLOOMINGTON, IND. — After undergoing $12 million in renovations, the Crowne Plaza Bloomington is expected to open this month. The 118-room hotel, which was converted from a Radisson, is located at 1710 N. Kinser Pike in Bloomington. Amenities at the four-story property include a fitness center, outdoor pool, full service restaurant, and 2,700 square feet of meeting space for business functions and special events. The facility is owned by Kinser Group, and is managed by Tristar Hotels Group, under a license agreement with a company in the InterContinental Hotels Group.
WAUKESHA, WIS. — The Milwaukee office of CB Richard Ellis has brokered the sale of a 4.24-acre parcel located at 400 Merrill Hills Rd. in Waukesha. Health Care REIT has purchased the property from an undisclosed seller in order to develop a 66,000-square-foot care center for Alzheimer’s patients. The facility, which will house 111 people, will be constructed on the west side of Merrill Hills Road, just south of Fiddlers Creek Drive. Paul Povlick of CB Richard Ellis brokered the transaction. The acquisition price was not disclosed.
OKEMOS, MICH. — Staybridge Suites Lansing-Okemos has opened less than 1 mile from Michigan State University at 3553 Meridian Crossings Dr. in Okemos. The three-story property features 95 guest rooms, including 53 studios, 30 one-bedrooms and 12 two-bedrooms. Amenities at the all-suite hotel include an indoor pool with whirlpool, 24-hour guest laundry and workout facilities, and a boardroom for business meetings. The hotel is owned by Peninsula Hotel Group, and is managed by American Hospitality Management under a license agreement with a company in the InterContinental Hotels Group. The cost of completion for the project was $8.2 million.
SOUTH BEND, IND. — Massachusetts-based Gross & Cohen Real Estate Investors has acquired a student-housing portfolio consisting of 47 properties, which are all located within 1 mile of the University of Notre Dame in South Bend. The 353-bed portfolio has been fully occupied for the last 4 years. The properties were purchased from an undisclosed seller for $13.75 million. Kramer Property Management will remain as the property manager for the portfolio.