ST. LOUIS — St. Louis-based Paric Corp. has been selected to provide general contracting services for a $7.8 million senior housing development located on South Grand Boulevard in St. Louis. The three-story, 76,000-square-foot project will comprise 87 apartments, as well as ground-floor retail space. Community amenities will include a computer center, a multi-purpose room, a dining hall, an exercise room and a courtyard. The project is being developed by The Pyramid Companies.
Midwest
ST. LOUIS — St. Louis-based Paric Corp. has been selected to provide general contracting services for a $7.8 million senior housing development located on South Grand Boulevard in St. Louis. The three-story, 76,000-square-foot project will comprise 87 apartments, as well as ground-floor retail space. Community amenities will include a computer center, a multi-purpose room, a dining hall, an exercise room and a courtyard. The project is being developed by The Pyramid Companies.
GENEVA, ILL. — Chicago-based Dwinn-Shaffer & Co. has secured $16.3 million in permanent financing for Brittany Court Apartments, a 226-unit multifamily community located in Geneva. Situated on 15.58 acres, the property comprises 29 two-story buildings with a mix of one- and two-bedroom units. Amenities include a pool, a clubhouse and a maintenance garage. The loan carries a 10-year term, with 5 years interest only, and was arranged for the undisclosed borrower by Bill Etherton of Dwinn-Shaffer & Co.
GENEVA, ILL. — Chicago-based Dwinn-Shaffer & Co. has secured $16.3 million in permanent financing for Brittany Court Apartments, a 226-unit multifamily community located in Geneva. Situated on 15.58 acres, the property comprises 29 two-story buildings with a mix of one- and two-bedroom units. Amenities include a pool, a clubhouse and a maintenance garage. The loan carries a 10-year term, with 5 years interest only, and was arranged for the undisclosed borrower by Bill Etherton of Dwinn-Shaffer & Co.
KALAMAZOO, MICH. — Kalamazoo-based PlazaCorp Realty Advisors has plans to build a 12,055-square-foot retail center near the intersection of West Main Street and Drake Road in Kalamazoo. The existing Colonial Kitchen Restaurant located on the property will be demolished to make way for the new building and parking facility. The building will be occupied by Colonial Kitchen, AT&T, and additional retail tenants. Completion is scheduled for this fall.
KALAMAZOO, MICH. — Kalamazoo-based PlazaCorp Realty Advisors has plans to build a 12,055-square-foot retail center near the intersection of West Main Street and Drake Road in Kalamazoo. The existing Colonial Kitchen Restaurant located on the property will be demolished to make way for the new building and parking facility. The building will be occupied by Colonial Kitchen, AT&T, and additional retail tenants. Completion is scheduled for this fall.
OVERLAND PARK, KAN. — Irvine, Calif.-based Passco Cos. has acquired The Village at LionsGate, a 360-unit multifamily property located at 14631 Broadmoor St. in Overland Park, for $37 million. The master-planned community comprises 43 buildings surrounding a 4-acre lake. Community amenities include a swimming pool, a 24-hour fitness center and business center, and a clubhouse with a billiards room, a large-screen TV and a video library. Passco plans to spend approximately $1 million upgrading the property. The company has selected Pinnacle Management to manage the property, which will remain a residential rental community in the near-term. William Powell of the Kansas City, Mo., office of Hendricks & Partners negotiated the sale on behalf of Passco and the seller, Houston-based USA LionsGate LeaseCo.
FORT WAYNE, IND. — Indianapolis-based Thomas English Retail Real Estate has commenced construction of Maysville Pointe, a 180,000-square-foot shopping center located near the interchange of Maysville Road and Interstate 469 in Fort Wayne. Situated on approximately 30 acres, the shopping center will be shadow-anchored by Wal-Mart, Kohl’s, Office Depot and Marshall’s. Tenants already signed at Maysville Pointe include PetSmart, MC Sports and Michaels. Completion of construction is scheduled for June, with the grand opening to be held in August.
OAK FOREST, ILL. — Naperville, Ill.-based Knightsbridge Design + Build has been selected to serve as general contractor for The Gateway, an 8.8-acre mixed-use development located at the intersection of 159th Street and Cicero Avenue in Oak Forest. Situated at the entrance to the Oak Forest train station, the transit-oriented project will include 78 residential units, as well as 37,750 square feet of in-line and freestanding retail space. Current plans include the construction of a 13,000-square-foot CVS/pharmacy, a 3,000-square-foot National City Bank, a 4,500-square-foot retail building and a 4,000-square-foot restaurant building. Construction of the five-story residential building is slated to begin upon completion of the freestanding retail construction. The Gateway is being developed by RSC & Associates, with Waukegan, Ill.-based Legat Architects providing design services.
AUBURN, IND. — BND Commercial has negotiated the sale of the Kimball International building, a 105,000-square-foot manufacturing property located in Auburn. The property was acquired by Churubusco, Ind.-based C&A Tool, which plans to use the facility to house the company’s aerospace division. The facility is expected to be operational by June. The sale was facilitated by Karl Behrens and David Nugent of BND Commercial. The seller, as well as the sale price, was not disclosed.