REBusinessOnline

Monarch Alternative Capital Acquires 214-Room Westin Minneapolis Hotel

MINNEAPOLIS — Monarch Alternative Capital LP has acquired the Westin Minneapolis hotel in partnership with HEI Hotels & Resorts. Although the purchase price was undisclosed, Monarch says it acquired the hotel at a significant discount due to disruptions caused by the pandemic. The acquisition marks Monarch’s 12th hotel purchase this year. The 214-room, business-oriented hotel is in the heart of downtown. Monarch plans to improve the asset with an upcoming renovation. Monarch will …

Nine Retailers Open at Easton Town Center in Columbus, Ohio

COLUMBUS, OHIO — Nine new retailers and restaurants are now open at Easton Town Center in Columbus. Levi’s has opened its first NextGen store in the state of Ohio. NextGen stores offer shoppers the opportunity to customize new looks and work directly with in-store stylists. Dr. Martens opened its second retail location in Ohio and its first in Columbus. Customers can shop a wide range of boots, shoes and accessories. Urban Outfitters has opened its only Columbus location.Fay’s Crepes, …

Equity Partnership Holdings Purchases Apartment Building in Omaha for $12.5M

OMAHA, NEB. — Equity Partnership Holdings LLC (EPH) has purchased Dundee Flats in Omaha for $12.5 million. Built in 2019, the Class A property consists of 62 apartment units and two commercial spaces. Located at the corner of 49th and Dodge streets, the building is within walking distance to the University of Nebraska Medical Center. A new Omaha Rapid Bus Transit station is situated directly in front of the property. The acquisition marks EPH’s second transaction in Omaha this year, and its …

Outside the Lines to Build Show Fountain at Branson Boardwalk in Missouri

BRANSON, MO. — Outside the Lines (OTL), a design-build company specializing in water features, fountains, rockwork and themed environments, is building a show fountain within the lake at Branson Boardwalk in Missouri. The 12,500-square-foot lake is adjacent to the Aquarium at the Boardwalk. The $55 million project, the first attraction to be developed at the Branson Boardwalk, includes a 34-ton, 55-foot octopus sculpture by Demiurge. The octopus will be integrated into the show fountain with …

Colliers Brokers Sale of Two-Building Industrial Facility Near O’Hare Airport

DES PLAINES, ILL. — Colliers Chicago has brokered the sale of the CEVA O’Hare Distribution Complex, a two-building industrial facility totaling 228,603 square feet in Des Plaines, a Chicago suburb just north of the O’Hare International Airport. The sales price was undisclosed. CEVA Logistics, a global logistics and supply chain company, uses the facility for distribution and sorting. The property is located on Mount Prospect Road. Jeff Devine and Steve Disse of Colliers represented the …

Trammell Crow, Diamond Realty Sell 1 MSF Valley View Trade Center in Jessup, Pennsylvania

JESSUP, PA. — A joint venture between Dallas-based Trammell Crow Co. and Diamond Realty Investments has sold Valley View Trade Center, a roughly 1 million-square-foot distribution center in Jessup, a northern suburb of Scranton. Built on a speculative basis in 2020, Valley View Trade Center features a clear height of 40 feet, truck court depths of 190 feet, an ESFR sprinkler system, 311 trailer parking spots, 277 car parking spots and 159 dock positions. Michael Hines, Brian Fiumara, Brad …

JLL Negotiates Sale of 240-Unit Berkshire Stewards Crossing Apartments Near Trenton

LAWRENCE TOWNSHIP, N.J. — JLL has negotiated the sale of Berkshire Stewards Crossing, a 240-unit apartment community in Lawrence Township, a northern suburb of Trenton. Michael Oliver, Jose Cruz, Steve Simonelli, Kevin O’Hearn and Grace Braverman of JLL represented the seller, Berkshire Residential Investments, in the transaction. The buyer and sales price were not disclosed. Roughly 9 percent (36) of the property’s one-, two- and three-bedroom units are reserved as affordable housing. …

Square Mile Capital Provides $47.2M Acquisition Loan for Syracuse Student Housing Property

SYRACUSE, N.Y. — Square Mile Capital has provided a $47.2 million acquisition loan for 505 on Walnut, a 363-bed student housing property that serves students at Syracuse University. The property, which is fully occupied for the current academic year, features 126 units in one-, two-, three- and four-bedroom layouts. Amenities include a 24-hour fitness center, computer lab, study pods, outdoor sky lounge, community kitchen, pet washing stations and a ground-floor café. Trent Houchin of …

FoxRock Properties Acquires Office Building in Downtown Boston for $43.5M

BOSTON — Commercial investment firm FoxRock Properties has acquired a 76,698-square-foot, Class A office building located at 176 Federal St. in downtown Boston for $43.5 million. According to LoopNet Inc., the eight-story building was originally constructed in 1901 and renovated in 1986. At the time of sale, the property was 80 percent leased, with law firm Rich May and financial advisory group Capstone Partners being the largest tenants at roughly 20,000 and 11,000 square feet, respectively. …

Pacer Partners, Drake Real Estate Buy Three Industrial Buildings Totaling 63,000 SF in Northeast

DEER PARK AND HAUPPAGE, N.Y. AND RANDOLPH, MASS. — A joint venture between regional investment firm Pacer Partners and New York City-based Drake Real Estate Partners has purchased three industrial buildings totaling approximately 63,000 square feet. Two of the single-tenant buildings are located on Long Island in the communities of Deer Park and Hauppage, and the third is located in the southern Boston suburb of Randolph. Thomas Didio Jr. of JLL arranged acquisition financing for the …

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