Property Type

Campion Devco to Develop 575-Bed Student Housing Project in Lincoln, Nebraska

by Kristin Harlow February 16, 2021

LINCOLN, NEB. — Campion Devco LLC is developing LivRed, a 575-bed student housing project near the University of Nebraska-Lincoln in Lincoln. The seven-story building will offer furnished one-, two-, three- and four-bedroom units. Community amenities will include a fitness center, package room, parking garage, private study rooms, gaming areas and lounges. The project team includes Sampson Construction, Grace Hebert Curtis Architects, ETI and REGA Engineering. Scott Clifton, Stewart Hayes, Teddy Leatherman and Dan Kearns of JLL Capital Markets sourced a joint venture partner in Tailwind Group for the project. A timeline for construction was not disclosed.

February 16, 2021

Illinois Leasing Activity Midwest Office

Franklin Partners Executes Leases Totaling 164,388 SF at The Shuman Office Property in Naperville

by Kristin Harlow February 16, 2021

NAPERVILLE, ILL. — Franklin Partners has executed leases totaling roughly 164,388 square feet at The Shuman, a five-story office building in Naperville. Franklin completed an extensive renovation of the property in September 2019. To date, lease signings include Brown & Brown Insurance, Derick Dermatology, Philadelphia Insurance, 3WON, Securitas Electronic Security Inc., SkyBridge, Stifel, Nicolaus & Co. Inc. and CIMC Capital, as well as two undisclosed tenants. There are 150,000 square feet remaining available for lease.

February 16, 2021

Development Illinois Industrial Midwest

Mid-American Elevator to Build New Headquarters in East Dundee, Illinois

by Kristin Harlow February 16, 2021

EAST DUNDEE, ILL. — Mid-American Elevator Co. is building a new corporate headquarters in East Dundee, about 40 miles northwest of Chicago. The company is relocating from downtown Chicago. The 45,000-square-foot industrial build-to-suit is situated within the Prairie Lake Business Park. Cory Kay, Jeff Locascio and Mike DeSerto of Entre Commercial Realty represented Mid-American Elevator in the transaction as well as the developer, Triumph Construction. Completion is slated for May. Additionally, the Entre team represented Mid-American Elevator in the sale of its 22,500-square-foot office building in Chicago for $4.1 million.

February 16, 2021

Loans Midwest Minnesota Multifamily

Colliers Mortgage Provides $32.5M HUD-Insured Loan for Apartment Refinancing in Minneapolis

by Kristin Harlow February 16, 2021

MINNEAPOLIS — Colliers Mortgage has provided a $32.5 million HUD 223(a)(7) loan for the refinancing of Third North Apartments in Minneapolis. The 204-unit apartment complex was built in 2014. The new loan features a 40-year amortization schedule, a lower interest rate and a lower mortgage insurance premium, resulting in annual cash flow savings, according to Colliers. Third North LLC was the borrower.

February 16, 2021

Development Multifamily New York Northeast Seniors Housing

Chelsea Living Opens Residences at Plainview Active Adult Community in Plainview, New York

by Taylor Williams February 16, 2021

PLAINVIEW, N.Y. — Chelsea Living has opened The Residences at Plainview, an active adult community in the Long Island hamlet of Plainview. The community features newly renovated studio, one-bedroom and two-bedroom apartments with full kitchens, a custom wellness program and amenities reminiscent of a luxury hotel. Chelsea operates a full-service assisted living and memory care community, Somerset Gardens, in Plainview less than a mile from the new property. The number of units at the property was not disclosed.

February 16, 2021

Acquisitions Multifamily New York Northeast Seniors Housing

Blueprint Arranges Sale of 80-Bed Skilled Nursing Facility in Rensselaer, New York

by Taylor Williams February 16, 2021

RENSSELAER, N.Y. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Rosewood Rehabilitation & Nursing Center in Rensselaer, located just across the Hudson River from Albany. The 80-bed skilled nursing facility was originally developed in the mid-1970s. Prior to the sale, the private ownership group completed capital investments including interior renovations, operational equipment upgrades and technological enhancements. The property was above 90 percent occupied at the time of sale. The buyer and seller were not disclosed.

February 16, 2021

Leasing Activity New York Northeast Retail

Newmark Negotiates 8,718 SF Retail Lease for Valentino in Manhattan’s Soho Area

by Taylor Williams February 16, 2021

NEW YORK CITY — Newmark has negotiated an 8,718-square-foot retail lease for luxury accessories provider Valentino at 135 Spring St. in the Soho area of Manhattan. The new store spans 4,424 square feet on the ground floor and 4,294 square feet on the second level. Newmark’s Ariel Schuster, Ross Berkowitz and Brandon Miller represented the landlord, Invesco Real Estate, in the lease negotiations.

February 16, 2021

Development Loans Multifamily Washington Western

NorthMarq Secures $45M in Joint-Venture Equity for Tacoma Plaza Multifamily Project in Washington

by Amy Works February 16, 2021

TACOMA, WASH. — NorthMarq has arranged $45 million in joint-venture equity between Trent Development and Bridge Investment Group for the development of Tacoma Plaza, an apartment community in Tacoma. Situated on 1.3 acres at 1502 Fawcett Ave., Tacoma Plaza will feature 368 apartments in a mix of studio, one- and two-bedroom units with private balconies and large windows. The community will offer two rooftop decks, two private courtyards and a dog spa. Completion is slated for 2023. Seattle-based Studio 19 Architects designed the project, while Gig Harbor-based Rush Commercial Construction is general contractor. Jake Leibsohn and Ron Peterson of NorthMarq secured the joint-venture equity.

February 16, 2021

Acquisitions California Multifamily Western

Bell Partners Buys 232-Unit Windsor at Redwood Creek Apartments in Rohnert Park, California

by Amy Works February 16, 2021

ROHNERT PARK, CALIF. — Bell Partners, on behalf of its Fund VII investors, has purchased Windsor at Redwood Creek, an apartment property in Rohnert Park. The buyer plans to rename the 232-unit property to Bell Rohnert Park. The seller and price were not released. Built in 2005 on 12.3 acres, Bell Rohnert Park features a resort-style swimming pool and spa with poolside dining area and gas grills, a clubhouse, fitness center, resident lounge, playground, dog park and detached garages. Each unit has a fully equipped kitchen with stainless steel appliances, washers/dryers, walk-in closets and a private balcony or patio, while select units include fireplaces. The acquisition represents Bell Partners’ second owned community in the Bay Area and second West Coast purchase of 2021, continuing the firm’s expansion into the region.

February 16, 2021

Acquisitions Arizona Restaurant Retail Western

Newmark Negotiates $5.2M Sale of Shops at Tuscano in Phoenix

by Amy Works February 16, 2021

PHOENIX — Newmark has arranged the sale of Shops at Tuscano, a shopping center located in Phoenix. Shrisha LLC sold the property to TDN Properties for $5.2 million. Located at 7435 W. Lower Buckeye Road, the retail center features 15,938 square feet of multi-tenant space. At the time of sale, the property was 93 percent occupied by seven tenants, including Sprint/T-Mobile, Little Caesars and TitleMax. The shopping center was built in 2006. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction.

February 16, 2021

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