BARDSTOWN, KY. — Northmarq’s Louisville office has secured the $3 million refinancing of Wilson & Muir Plaza, a 63,598-square-foot retail center located at 100 W. John Rowan Blvd. in Bardstown, roughly 40 miles southeast of Louisville. Randall Waddell of Northmarq negotiated a blended interest rate of 4.9 percent fixed over a 19-year term on behalf of the undisclosed borrower. A new anchor tenant — Marshalls — recently opened at the property.
PHOENIX — Newmark has arranged the $255 million sale of a four-property, Class A seniors housing portfolio in Phoenix and its suburbs. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care units. The seller built all four communities — LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard — between 2014 and early 2022. Newmark represented the seller, regional owner-operator and developer Liv Communities, in the transaction. The buyer was not disclosed.
VISALIA, CALIF. — The Mogharebi Group (TMG) has brokered the sale of Oak View Apartments, a garden-style multifamily community at 4700 W. Caldwell Ave. in Visalia. A Southern California-based private investor acquired the asset from a Los Angeles-based private investor for $50 million. Built in 1990 and partially renovated in 2022, Oak View Apartments features 237 residences in a mix of one-, two- and three-bedroom layouts, ranging from 608 square feet to 1,170 square feet, spread across two-story apartment buildings and single-level duplexes on a 16.5-acre site. Community amenities include two swimming pools, a resident clubhouse with full kitchen, business centers, fitness centers, tot lots, sports courts and laundry facilities. The buyer plans to upgrade the 173 un-renovated units. Otto Ozen of TMG represented the seller in the deal.
PORTLAND, ORE. — Urban Development Group has received two separate loans, totaling $40 million, for two apartment communities in Portland. Dwight Capital provided a $24.9 million HUD 223(f) loan for The Kathryn Ann and a $15.2 million HUD 223(f) loan for The Sellina. The 146-unit The Kathryn Ann and the 90-unit The Sellina both feature dog wash stations, indoor bicycle storage and community courtyard. Both loans benefitted from a Green Mortgage Insurance Premium Reduction set at 25 basis points because the properties achieved Energy Star certifications. The Kathryn Ann also has an affordability component, as 15 percent of its units are restricted to 80 percent or less of the median family income. These loans are the seventh and eighth HUD loans that Dwight Capital has closed for the borrower. McBride Capital brokered the transactions.
ESCONDIDO, CALIF. — Stos Partners, in a joint venture with a global insurance company, has acquired a freestanding industrial property located at 2425 Auto Park Way in Escondido. South Image Inc. sold the asset for $20 million in an off-market transaction. The sale brings the buyer’s total 2022 deal volume to nearly $300 million. Located near Interstate 5 and Highway 78, the 86,690-square-foot property features 18-foot to 22-foot clear heights and 10,000 square feet of office buildout. Approximately 11 percent of the total building space is dedicated to private business operations space, sound engineer testing space, a mechanics tool shop and a racked storage area. The property also features a 2000A/277 480V 3-Phase system and 200 parking spaces. Barry Handler of Lee & Associates represented the buyer and seller in the deal.
SPRINGVILLE, UTAH — Regents Park Brixton has completed the disposition of Next Step Business Park, a three-building industrial campus in Springville, a suburb of Provo. San Diego-based Hearthstone Capital acquired the 75,864-square-foot asset for an undisclosed price. Located at 317 N. 2000 W, Next Step Business Park consists of three single-story, newly constructed buildings ranging in size from 18,926 square feet to 28,480 square feet. The property is fully leased to a variety of tenants. Bryce Blanchard of Newmark brokered the transaction.
LANCASTER, OHIO — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants such as Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.
CARMEL, IND. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings. The buyer will rebrand the facility under its Restoracy brand. The seller and sales price were not disclosed.
MCHENRY, ILL. — Northmarq has brokered the $4.7 million sale of a 7,000-square-foot healthcare property in McHenry, about 50 miles northwest of Chicago. The newly constructed building, located at 1830 N. Richmond Road, is fully occupied by Aspen Dental and WellNow Urgent Care. Isaiah Harf of Northmarq represented the seller, a Chicago-based developer. The asset sold to a Missouri-based private buyer completing a 1031 exchange.
ROCHELLE, ILL. — Cawley Chicago has negotiated the sale of a 110,000-square-foot lumber yard in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. The property at 147 Second Ave. features a one-story manufacturing and warehouse facility, which was built in 2003. Jon Chamlin of Cawley Chicago represented the seller, Monty Enoch, proprietor of Cedar Siding Inc. The buyer, Wisconsin-based Dumke Associates, has retained Chamlin as the leasing agent. Dumke plans to renovate the property and begin lease-up in the first quarter of 2023.