Property Type

Montecito Medical Acquires 130,000 SF Medical Office Building in Suburban Milwaukee

by Kristin Harlow November 9, 2020

GREENFIELD, WIS. — Montecito Medical Real Estate has acquired Aurora Health Center at 84South, a surgical center and medical office building in Greenfield, a suburb of Milwaukee. The purchase price was undisclosed. Built in 2019, the 130,000-square-foot, five-story facility is fully leased to Advocate Aurora Health. It is situated within the larger mixed-use development known as 84South. The property is one of the largest outpatient ambulatory sites for Advocate Aurora Health with eight surgical suites, two pain management procedure rooms, four gastroenterology suites and outpatient interventional radiological suites. The building also serves as a central location for Aurora Children’s Health Services and Aurora’s Sports Health Services. Advocate Aurora Health operates 27 acute care hospitals and employs roughly 3,700 physicians across Wisconsin, Michigan and Illinois.

November 9, 2020

Industrial Leasing Activity Texas

TAXA Outdoors Signs 69,356 SF Industrial Lease in Northwest Houston

by Taylor Williams November 9, 2020

HOUSTON — TAXA Outdoors, a provider of mobile camping trailers, has signed a 69,356-square-foot, full-building industrial lease at 7930 Blankenship Drive in northwest Houston. According to LoopNet Inc., the property was built in 1970 and features 22-foot clear heights and more than 10,000 square feet of office space, as well as fenced truck courts and outside storage capacity. Geoff Perrott and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Nick Peterson and John Ferruzzo of Transwestern represented the landlord, Prologis.

November 9, 2020

Development Healthcare Illinois Midwest

McShane Completes Construction of New Facility for Option Care Health in Itasca, Illinois

by Kristin Harlow November 9, 2020

ITASCA, ILL. — McShane Construction Co. has completed a new build-to-suit facility for Option Care Health in Itasca. Quadrangle Development Co. and Janko Group were the developers. The 50,000-square-foot, single-story building houses office space, pharmacy and ambulatory infusion sites. There is also a treatment area, showroom space, pharmacy lab area and conference rooms. The building’s warehouse areas feature two walk-in coolers and freezers, two truck docks and two drive-in doors. Wright Heerema Architects and Whitney Architects made up the project team. JLL represented the tenant.

November 9, 2020

Loans Multifamily Texas

Colliers Provides Fannie Mae Acquisition Loan for 85-Unit Apartment Complex in Metro Dallas

by Taylor Williams November 9, 2020

DESOTO, TEXAS — Colliers Mortgage has provided an undisclosed amount of Fannie Mae green acquisition financing for The Corners Apartments, an 85-unit multifamily complex located in the southern Dallas suburb of DeSoto. The property was built in 1984 and renovated in 2019. Colliers provided the 12-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.

November 9, 2020

Loans Michigan Midwest Multifamily Seniors Housing

Bernard Financial Group Arranges $11.5M Refinancing for Seniors Housing Property in Detroit

by Kristin Harlow November 9, 2020

DETROIT — Bernard Financial Group has arranged an $11.5 million loan for the refinancing of an 82-unit seniors housing property in Detroit. Walker & Dunlop provided the Freddie Mac loan, terms of which were undisclosed. Dennis Bernard and Joshua Bernard of Bernard Financial Group arranged the loan on behalf of the borrower, OP Senior Limited Dividend Housing Association LLC.

November 9, 2020

Acquisitions Multifamily Seniors Housing Texas

The Ensign Group Acquires 82-Bed Skilled Nursing Facility in Amarillo

by Taylor Williams November 9, 2020

AMARILLO, TEXAS — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Medical Lodge of Amarillo, an 82-bed skilled nursing facility in Amarillo. The property was 45 percent occupied at the time of acquisition. This property brings Ensign’s portfolio to 227 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.

November 9, 2020

Acquisitions Healthcare Texas

Edge Realty Partners Arranges Sale of 17,150 SF Medical Office Building in Houston

by Taylor Williams November 9, 2020

HOUSTON — Edge Realty Partners has arranged the sale of a 17,150-square-foot medical office building located at 3222 Hillcroft Ave. in between Houston’s Uptown and Westchase neighborhoods. According to LoopNet Inc., the single-story property was built in 1969 and renovated in 2014. Micha Van Marcke and Chace Henke of Edge Realty Partners represented the undisclosed seller in the transaction. Other terms of sale were not released.

November 9, 2020

Acquisitions Delaware Multifamily Northeast

Greysteel Brokers Sale of 132-Unit Willows at Dover Apartments in Delaware

by Taylor Williams November 9, 2020

DOVER, DEL. — Greysteel has brokered the sale of Willows at Dover, a 132-unit apartment community in the state capital city. The townhouse-style property was built in 1976 and renovated in 2009. Amenities include a playground, clubhouse and onsite laundry facilities. Henry Mathies and Fletcher Hultman of Greysteel represented the seller, New Jersey-based investment firm The Ingerman Group, in the transaction. The duo also procured the buyer, an affiliate of Los Angeles-based BLDG Partners, which acquired the asset for approximately $19.5 million.

November 9, 2020

Affordable Housing Delaware Loans Lument Multifamily Northeast Seniors Housing

Lument Provides $8M in Agency Financing for Affordable Housing Conversion Projects in Delaware

by Taylor Williams November 9, 2020

MIDDLETOWN AND SMYRNA, DEL. — Lument has provided an $8 million Freddie Mac loan to the Delaware State Housing Authority (DSHA) for the conversion of three public housing developments into Section 8 affordable housing for seniors. The permanent financing will pay off construction and renovation debt for a portfolio of three properties totaling 106 units. The portfolio being renovated comprises Holly Square in Middletown and McLane Gardens and Peach Circle, both in Smyrna. The renovation project consists of substantial interior and exterior upgrades, as well as improved ADA compliance and accessibility for seniors. Holly Square and Peach Circle will be reserved for seniors age 62 and older, with McLane Gardens having general occupancy.

November 9, 2020

Industrial Loans New Jersey Northeast

G.S. Wilcox Arranges $21M Loan for Refinancing of Northern New Jersey Industrial Property

by Taylor Williams November 9, 2020

NEW JERSEY — G.S. Wilcox & Co., a locally based mortgage banking firm, has arranged a $21 million loan for the refinancing of a 236,000-square-foot industrial property in Northern New Jersey. Gretchen Wilcox, Albert Raymond and Wesley Wilcox of G.S. Wilcox arranged the 20-year loan through Mutual of Omaha on behalf of the undisclosed borrower. The property name and location were also not disclosed.

November 9, 2020

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