ST. LOUIS — Guardian Pharmacy Services, a long-term care pharmacy company, has opened a new location in St. Louis. The opening enables Guardian Pharmacy of Missouri to expand its footprint to serve assisted living, skilled nursing, memory care and independent living communities across eastern Missouri. The 6,500-square-foot facility will house technology/automation and an education center to provide in-service and nursing instruction courses for pharmacy employees as well as community staff members. With the new St. Louis location and the existing Springfield location, the company has been able to sign 12 new communities serving approximately 1,000 residents.
SPENCER, IOWA — Dougherty Mortgage has provided a $6.9 million Fannie Mae loan for the refinancing of Windcrest Village in Spencer in northwestern Iowa. The 87-unit apartment property includes laundry facilities, a fitness center and children’s playground. The 12-year loan features a 30-year amortization schedule. Windcrest Village LLC was the borrower.
CHICAGO — Tegus, a research platform for institutional investors, has signed a 14,195-square-foot office lease at 120 S. LaSalle St. in Chicago. Toronto-based Slate Office REIT owns the property, and plans to upgrade the amenity package with a rooftop lounge and fitness center. Tegus plans to move 45 employees into the new space on April 1. The space allows for expansion up to 100 employees. Tony Karmin and Joe Stevens of Colliers International represented Tegus in the lease transaction. Mason Taylor of JLL represented Slate.
CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $19 million loan for the refinancing of 70 E. Walton, a 50,000-square-foot building in Chicago’s Gold Coast neighborhood. The property includes 25 apartment units and 15,000 square feet of retail space on the first through third floors. Michael Hart of Cohen arranged the fixed-rate, seven-year loan on behalf of the borrower, a private investor.
CHICAGO — American Street Capital (ASC) has arranged $15.4 million in permanent loans for the refinancing of a seven-building multifamily portfolio located in Chicago’s Bronzeville and Kenwood neighborhoods. The recent acquisitions required significant amenity upgrades. The portfolio was approximately 90 percent occupied at closing. Igor Zhizhin and Alexander Rek of ASC arranged seven non-recourse loans on behalf of the Chicago-based borrower.
BARRINGTON, ILL. — The Boulder Group has brokered the sale of a 59,885-square-foot single-tenant property net leased to Jewel-Osco in Barrington for $12.8 million. The building sits on a 3.8-acre parcel at 150 W. Main St. Randy Blankstein and Jimmy Goodman of Boulder represented both the buyer and the seller. A Southwest-based private real estate investment company sold the asset to a Midwest-based family completing a 1031 tax-deferred exchange.
EAST CLEVELAND, OHIO — Gorjian Acquisitions has purchased a 25,250-square-foot retail building in East Cleveland for an undisclosed price. Discount retailer Roses Express occupies the single-tenant property, which is located on a 2.3-acre lot at 1450 Hayden Ave. Roses Express is owned by Variety Wholsalers Inc., which operates nearly 400 stores across the Midwest and Southeast. The seller was not disclosed.
COLUMBUS, OHIO — Marcus & Millichap has negotiated the sale of the Extend-A-Suites Columbus for $1.8 million. The 133-room hotel is located at 887 Morse Road. Andrew Bankhurst, Alexandre Duong, Allan Miller and Mark Diebold of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Bankhurst and Duong represented the buyer, a limited liability company.
NEWTON, MASS. AND WESTLAKE, OHIO — TravelCenters of America LLC (NASDAQ: TA) has agreed to purchase 20 truck stop locations from its primary landlord, Hospitality Properties Trust (NASDAQ: HPT), for $308.2 million. The 20 properties span 15 states. HPT will continue to own 179 properties that TA leases. The leases have been amended by both companies, which puts the 179 properties under five leases. The leases have all been extended by three years. Westlake-based TA expects to purchase nine of the travel centers for $140.5 million Jan. 17 and expects to complete the remaining purchases in two closings by the end of January. HPT expects to gain $160 million from the sale, which it plans to use to repay borrowings under its revolving credit facility and for general business purposes. When the sales are finalized, TA’s rent will fall by $243.9 million per year. Under the amended leases, TA’s rent will be reduced by $43.1 million per year. HPT will receive $70.5 million for backlogged payments in 16 quarterly payments from TA beginning April 1. The backlogged rent has been reduced from $150 million due to moving the payments up from June 2024. “As we move into the tenth year …
CHICAGO — Conor Commercial Real Estate has completed development of Last Mile Logistics Center I-55, a speculative industrial facility in Chicago. The 316,550-square-foot property is situated on an infill site at the intersection of 51st Street and St. Louis Avenue. The facility features 55 truck docks, 71 trailer stalls, 50-foot bays and a clear height of 36 feet. McShane Construction Co. and Ware Malcomb provided the design-build services. Walter Murphy and Sean Austin of Lee & Associates will market the property for lease.