MINNETONKA, MINN. — The Opus Group has completed its first senior living community in the Twin Cities known as Orchards of Minnetonka. The 147-unit development offers independent living, assisted living and memory care. Amenities include a salon, chapel space, clubroom, community room and two dining areas. Outdoor areas include a putting green, gardening beds and orchard. Ebenezer Management will operate the property. Sperides Reiners Architects and Consilium Home made up the project team.
CHICAGO — Structured Development LLC has completed District Brew Yards, a collection of three breweries located in a repurposed warehouse in Chicago’s West Town neighborhood. Structured, in partnership with Burnt City Brewing, led the conversion of the former photography studio. Burnt City’s beers will be featured at the brewery along with those of Around the Bend Beer Co. and Bold Dog Beer Co. Each of the brewing companies has a dedicated self-service tap. The project spans 18,000 square feet.
SAGINAW, MICH. — Bernard Financial Group has originated an $8.7 million Freddie Mac loan for the refinancing of South Colony Place I in Saginaw. The 201-unit multifamily property is located at 180 S. Colony Drive in central Michigan. Dennis Bernard originated the loan on behalf of the borrower, South Colony Limited Dividend Housing Association LLC.
JEFFERSONVILLE, IND. — NorthMarq Capital has arranged an $8 million loan for the refinancing of Beech Grove Apartments in Jeffersonville. Built in 1972 and renovated in 2006, the 182-unit apartment property is located at 3014 Beech Grove Court. Noah Juran of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule and a fixed rate. A life insurance company provided the loan.
COLUMBUS, OHIO — On behalf of its TSP Value and Income Fund II, Transwestern Investment Group has acquired a 1.5 million-square-foot industrial portfolio in Columbus for an undisclosed price. The portfolio includes three buildings: a 706,162-square-foot building at 3880 Groveport Road; a 403,122-square-foot facility at 3800 Lockbourne Industrial Parkway; and a 398,471-square-foot building at 4150 Lockbourne Industrial Parkway. The portfolio is approximately 50 percent leased to four tenants. The properties feature clear heights of 22 to 24 feet and more than 500 car and 400 trailer parking positions across the three assets. Kurt Sarbaugh and Robin Stolberg of HFF represented the seller, a joint venture between Singerman Real Estate and Green Door Capital. Ken Martin and Brian Carolton of HFF arranged acquisition financing with TBK Bank.
CHICAGO — Skender has started interior construction of the Chicago headquarters for Spaces, a coworking company owned by IWG. Spaces will fully occupy the former Sports Authority building, which spans eight stories and 80,000 square feet and is located at the corner of LaSalle and Ontario streets. Project features include a roof terrace, café, gym, reception area, conference rooms, private offices and open office workstation areas. Next Realty is the building owner. Skender is collaborating with WB Interiors, Loring Engineers and Himes Associates. Completion is slated for September.
UTICA, MICH. — Marcus & Millichap has arranged the sale of EZ Storage, a 58,590-square-foot self-storage facility in Utica. The sales price was not disclosed. Located at 12700 E. Utica Park Blvd., the 547-unit property includes both climate-controlled and non-climate-controlled units. The facility is 98 percent occupied. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property for sale on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a limited liability company.
CHICAGO — Cawley Chicago has brokered the sale of a 43,325-square-foot industrial building in Chicago for an undisclosed price. The property is situated on 1.8 acres at 4834 S. Oakley Ave. and includes fenced parking and outside storage. Frank Melchert and Stevan Arandjelovic of Cawley represented the seller, MPC Real Estate LLC. Draper and Kramer represented the buyer, Bridgewater Studio Inc., which will occupy the building.
SHELBY TOWNSHIP, MICH. — Gerdom Realty & Investment has completed the lease-up of Phase I at The Shops at Nottinghill in Shelby Township. The final tenant, Devine Nails, leased a 2,131-square-foot space. The nail salon plans to open in the third quarter of this year. Mike Murphy, Tjader Gerdom and Larry Siedell of Gerdom represented the landlord. Phase II of the shopping center will include up to 5,000 square feet.
FERNDALE, MICH. — Greystone has provided a $17.7 million HUD-insured loan to finance the new construction of 409 on Nine, a 127-unit apartment property on Nine Mile Road in Ferndale. Lisa Fischman of Greystone originated the loan on behalf of the borrower, Wolf River Development Co. The construction loan will convert to a 40-year permanent loan after completion and stabilization. The four-story project will include 5,000 square feet of ground-floor retail space, covered parking, a rooftop terrace, dog run, picnic area and fitness center. A timeline for completion was not disclosed.
