WINNETKA AND WILMETTE, ILL. — DMG Capital, the multifamily investment affiliate of Chicago-based Daniel Management Group Inc., has acquired a three-property multifamily portfolio in Winnetka and Wilmette for $12 million. DMG acquired the assets, located in the North Shore suburbs of Chicago, in a joint venture with private equity real estate firm JDI Realty. DMG plans to rebrand the portfolio as Trevian Townhomes. Units average 1,525 square feet. The seller was not provided.
FISHERS, IND. — Thompson Thrift Residential, a wholly owned affiliate of Indianapolis-based Thompson Thrift, has broken ground on Slate at Fishers District in the Indianapolis suburb of Fishers. The build-for-rent community will feature 242 luxury single-family homes. The developer expects to begin welcoming residents in the first quarter of 2023. The residences will average 1,215 square feet and will come in one-, two- and three-bedroom villas as well as four-bedroom townhomes. Residents will have access to a clubhouse, fitness center, pool and dog parks. As part of the project, a public park and paved trail will be constructed, providing the community direct pedestrian access to Fishers District, a mixed-use development with 110,000 square feet of retail space.
CAMPELLSBURG, IND. — MAG Capital Partners LLC has acquired the global headquarters building of Metal Powder Products (MPP) in Indiana. The purchase price of the sale-leaseback transaction was not disclosed. The nearly 16-acre property is located at 596 W. Oak St. in Campbellsburg, about 47 miles northwest of Louisville. MAG Capital Partners also purchased four of MPP’s industrial properties in Pennsylvania for a total portfolio consideration of 500,000 square feet. Newmark’s JC Asensio, Andrew Sandquist and Briggs Goldberg represented MPP in the sale. MAG Capital Partners, a private investment firm led by Dax Mitchell and Andrew Gi, is based in Fort Worth, Texas.
CAREY, OHIO — Marcus & Millichap has arranged the $17 million sale of a 237,155-square-foot industrial building in Carey, about 60 miles south of Toledo. Hanon Systems, a South Korean-based manufacturer of automotive HVAC and cooling systems, fully occupies the facility, which is located at 581 Arrowhead Drive. Joshua Baker, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Patton Wiles Fuller Group represented the seller. The buyer and seller were not provided.
ST. PAUL, MINN. — MedCraft Investment Partners, which focuses exclusively on healthcare real estate, has acquired a 22,721-square-foot medical office building in St. Paul for $8.6 million. MHealth Fairview’s Midway Clinic, which offers primary and specialty care services, fully occupies the property, which is located at 1390 University Ave. A bookstore formerly occupied the building before it was converted into healthcare use. The seller was not provided.
BOLINGBROOK, ILL. — DD’s Discounts, owned by Ross Stores Inc., has signed a lease to open and operate an 18,000-square-foot store at Market Square Shopping Center in the Chicago suburb of Bolingbrook. Other tenants at the property, located near I-55, include Walmart, Dollar Tree, Wintrust Bank and T-Mobile. Michael Horne of Newcastle Properties represented ownership on an internal basis. Andy Bulson of Mid-America Real Estate represented the tenant. Newcastle owns and operates 82 properties in 23 states.
CHICAGO — Draper and Kramer Inc. has opened Wrigleyville Lofts, a 120-unit apartment complex located at 949 W. Dakin St. in Chicago’s Wrigleyville neighborhood. Additionally, Lakeview Ace Hardware, which occupied the single-story structure that previously stood on the development site, has reopened in the building’s first-floor retail space. The store’s owner, Joe Lomanto, is also a minority owner in the development. Sullivan, Goulette & Wilson Architects designed the seven-story project, which is situated near Wrigley Field. There are 108 one-bedroom units and 12 two-bedroom units. Monthly rents start at $1,700. Amenities include a rooftop deck, coffee area, private clubroom, fitness center, bike storage, parking garage and meeting spaces. Leopardo Construction was the general contractor. Gershman Mortgage arranged project financing.
AMES, IOWA — Centurion Property Group has acquired Aspen Ames, a 422-bed student housing community located near the Iowa State University campus in Ames, for $25 million. Built in 2017, the property offers a mix of two-, three- and four-bedroom floorplans with bed-to-bath parity across four buildings. Shared amenities include a fitness center, game room, computer lab and study room. Centurion plans to begin renovations on the community and add a pet park and basketball court. Asset Living has been tapped to manage the property, which will be renamed The ONE at Ames. Scott Clifton and Stewart Hayes of JLL represented the undisclosed seller in the transaction. Aspen Ames marks the company’s third student housing acquisition in the past 18 months.
RACINE, WIS. — Matthews Real Estate Investment Services has brokered the $10.7 million sale of a Home Depot-occupied retail property in Racine. The asset is located at 2429 S. Green Bay Road near the High Ridge Shopping Center. Rob Goldberg and Ben Snyder of Matthews represented the seller, a national private investor. An unnamed REIT was the buyer.
KEARNEY, NEB. — Colliers Mortgage has provided a $3.7 million Fannie Mae loan for the refinancing of Park Meadow Apartments in central Nebraska’s Kearney. The 84-unit apartment community is situated near local parks, dining, shopping and entertainment spots. Units feature walk-in closets and balconies. The 12-year loan features a 30-year amortization schedule. Park Meadow Partners LLC was the borrower.