REBusinessOnline

Walker & Dunlop Provides $225.1M Fannie Mae Acquisition Loan for Multifamily Portfolio in Virginia

BETHESDA, MD. — Bethesda-based Walker & Dunlop has provided a $225.1 million Fannie Mae acquisition loan for a five-property multifamily portfolio on behalf of Capital Square 1031. Walker & Dunlop provided a $66 million loan for 2000 West Creek in Richmond, a $29.7 million loan for Hickory Creek Apartments in Richmond, a $31.6 million loan for Saltmeadow Bay Apartments in Virginia Beach, a $52.5 million loan for Misty Ridge Apartments in Woodbridge and a $45.3 million loan for …

Brookview Realty Purchases Apartment Complex in Louisville for $38M

LOUISVILLE, KY. — Brookview Realty Group has purchased Echelon at Middletown, a 210-unit, garden-style apartment complex in Louisville’s Middletown neighborhood, for $38 million. The property offers one-, two- and three-bedroom floor plans averaging 1,080 square feet. Community amenities include a swimming pool, spa, 24-hour fitness center with a yoga studio, pet park, internet café and a business center. The community is located at 400 Echelon Way, 17 miles east of downtown Louisville. …

Phillips Edison Sells 124,268 SF Shopping Center Near Daytona Beach

PORT ORANGE, FLA. — Phillips Edison & Co. Inc. has sold Countryside Shopping Center, a 124,268-square-foot retail center in Port Orange. An affiliate of Atlanta-based Vanguard Associates Inc. acquired the property for an undisclosed price. Sav-a-Lot and Big Lots anchor the 96 percent-leased center. Other tenants at the time of sale included Halifax Health, Wells Fargo, Cici’s Pizza, Workout Anytime and H&R Block. The center is located at 3840 S. Nova Road, seven miles south of …

FCP Acquires Multifamily Community in Central Florida for $25.3M

KISSIMMEE, FLA. — FCP has acquired Park at Sorrento, a 208-unit multifamily community in Kissimmee, for $25.3 million. The property offers one- through three-bedroom floor plans that span between 750 and 1,310 square feet. Communal amenities include a swimming pool, business center and a clubhouse. Park at Sorrento is located at 900 Woodside Circle, 23 miles south of downtown Orlando. FCP plans to rebrand the property as Mirador at Woodside. Shelton Granade, Luke Wickham, Justin …

TerraCap Buys Office Building in Charlotte for $24.8M

CHARLOTTE, N.C. — TerraCap Management LLC has bought Resource Square IV, a five-story, 152,000-square-foot office building in Charlotte, for $24.8 million. Resource Square office complex comprises five buildings totaling 337,611 square feet. TerraCap bought three of the buildings in August. The property is located near Interstates 85, 77 and 485, as well as Charlotte’s LYNX Light Rail Blue Line. The property offers a parking ratio of 4.5 per 1,000 square feet and features amenities such as …

Hunt Real Estate Capital Provides $24.2M Refinancing for Multifamily Portfolio in Indianapolis

INDIANAPOLIS — Hunt Real Estate Capital has provided a $24.2 million loan for the refinancing of Circle City Apartments, a 356-unit multifamily portfolio in Indianapolis. The portfolio comprises six mid-rise buildings that range in size from 24 to 136 units and were built from 1900 to 1929. Hunt sourced the 10-year loan through Freddie Mac. The borrower, Old Northside Capital Partners LLC, purchased the portfolio in July 2015 and subsequently completed $10.9 million in capital

Three Tenants Join Retail Lineup at Ballpark Village Expansion in St. Louis

ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have unveiled three new tenants at the $260 million expansion of Ballpark Village — Sports & Social St. Louis, Davio’s Northern Italian Steakhouse and Baseballism. The 75,000-square-foot retail portion within the second phase expansion is now 92 percent leased. Sports & Social will occupy 9,000 square feet and anchor the base of the three-story retail pavilion overlooking the new infield plaza and Busch Stadium. In addition …

New Healthcare Facility Opens at Eastern Michigan University

YPSILANTI, MICH. — A new 12,296-square-foot healthcare facility known as the IHA Health Center @ EMU has opened. Situated at Eastern Michigan University in Ypsilanti, the health center will provide primary healthcare services to members of the EMU community as well as the community at large. In addition to primary care, the facility will offer women’s health services, urgent care services and an onsite third-party pharmacy operated by Campus Medical Pharmacy. Dr. Lisa Whipple serves as the …

NorthMarq Arranges $12.5M Refinancing for Seniors Housing Property in Bettendorf, Iowa

BETTENDORF, IOWA — NorthMarq has arranged a $12.5 million loan for the refinancing of The Fountains Independent Living in Bettendorf. The seniors housing property is located at 3728 Thunder Ridge Road. Jason Kinnison of NorthMarq structured the loan with an immediate funding of $8.5 million and a construction component in the amount of $4 million, which will be used to complete an addition to the property. The borrower was not

Cohen Financial Secures $12M Refinancing for DoubleTree Hotel in Michigan

PORT HURON, MICH. — Cohen Financial, a division of SunTrust Bank, has secured a $12 million CMBS loan for the refinancing of a 149-room DoubleTree by Hilton hotel in Port Huron, which is located in eastern Michigan along Lake Huron. Cathy Bronkema of Cohen arranged the 10-year, fixed-rate loan, which features a 30-year amortization schedule. JB Real Estate Development Co. was the

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