CHICAGO — Cushman & Wakefield has secured $55.8 million in acquisition financing for the Regent O’Hare Industrial Portfolio in Elk Grove Village. CIBC provided the financing on behalf of the borrowers, Investcorp International Realty Inc. and Brennan Investment Group. Regent O’Hare includes eight industrial buildings totaling 955,460 square feet. The portfolio is 92 percent leased by roughly 55 tenants. Jeff Altenau, Gideon Gil and Zach Yarnoff of JLL represented the borrowers. Loan terms were not disclosed.
MIDDLETON, WIS. — McShane Construction Co. has broken ground on The Trotta Apartments in Middleton near Madison. Impact Seven is the developer for the 126-unit apartment project, which is situated on a site that formerly housed a motel owned by the Trotta family. The four-story development will include amenities such as a clubroom, fitness center, dog wash, common room and three rooftop decks. Completion is slated for April 2022. Ramaker & Associates is the architect of record.
PALATINE, WAUKEGAN, ELGIN AND CHICAGO, ILL. — Walker & Dunlop Inc. has structured $38.4 million in HUD financing for four skilled nursing properties in Illinois, all within 50 miles of Chicago. The collection of properties includes Aperion Care Plum Grove, a 69-bed facility in Palatine; Pavilion of Waukegan, a 112-bed property in Waukegan; Park View Rehab Center, a 112-bed facility in Chicago; and River View Rehab Center, a 203-bed asset in Elgin. Joshua Rosen of Walker & Dunlop led the origination team. The loans feature fixed rates, a declining prepayment schedule and terms ranging from 30 to 34 years.
DETROIT AND GRAND RAPIDS, MICH. — Alliant Credit Union has provided an $18 million loan for the acquisition of a six-property self-storage portfolio located in the metro Detroit and Grand Rapids areas. Pogoda Cos. was the borrower. The 10-year loan features 30 months of interest-only payments followed by a 30-year amortization schedule. Shoy McKen of Lev Capital arranged the loan with Alliant.
ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the sale of a FedEx Ship Center in Elk Grove Village for $4 million. FedEx occupies the 36,395-square-foot building on a net-lease basis. The property is located at 1200 Devon Ave. near the Chicago O’Hare International Airport. Dominic Sulo of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Buyer information was not disclosed.
DEER PARK AND PASADENA, TEXAS — CBRE has negotiated two industrial leases totaling approximately 505,000 square feet near Port Houston on the city’s southeastern outskirts. In the first transaction, a global e-commerce firm leased 402,648 square feet within Underwood Port Logistics Center in Deer Park. In the second transaction, Frederick Trucking signed a deal to occupy 102,863 square feet at Bayport North Logistics Center I in Pasadena. Joseph Smith, Patrick Rollins, Jason Dillee and Andrew Jewett of CBRE represented the landlord, an affiliate of Triten Real Estate Partners, in both lease negotiations. Dedrik Pharis of CBRE represented the e-commerce user, and Chris Haro of NAI Partners represented Frederick Trucking.
FORT WORTH, TEXAS — Tampa-based multifamily investment firm American Landmark has acquired The View at Fort Worth, a 300-unit apartment community located just north of the city’s downtown area. Built in 2018, the property features studio, one- and two-bedroom units ranging in size from 594 to 1,169 square feet that are furnished with stainless steel appliances, tile backsplashes, quartz countertops, in-unit washers and dryers and private patios/balconies. Amenities include a pool with a sundeck, clubhouse with a lounge, coffee bar, business center, fitness center and two outdoor courtyards. The new ownership will add luxury lighting fixtures and electronic smart locks, as well as upgrade the landscaping and several amenity spaces. American Landmark, which now owns 18 apartment communities in the metroplex, has rebranded the property as The Shelby at Northside.
AUSTIN, TEXAS — An investment group led by Ocean West Capital Partners has acquired Moontower, an 18-story student housing building serving the University of Texas at Austin. Lincoln Ventures recently completed the property, which offers 567 beds and opened before the fall 2020 semester at near 100 percent occupancy. Amenities include a rooftop pool and lounge, a fitness center with yoga and spin studios, coffee bar, study lounge and private study rooms. Ryan Lang and Jack Brett of Newmark represented Lincoln Ventures in the sale.
GARLAND, TEXAS — An affiliate of Dallas-based investment firm CanTex Capital has purchased a 162,685-square-foot industrial building located at the corner of West Kingsley Road and Oakland Avenue in Garland, a northeastern suburb of Dallas. James Mantzuranis and Adam Jones of Stream Realty Partners represented the buyer in the transaction. Hal Penchan and Matt Troutt with Altschuler & Co. represented the seller, CCMP SPE 2 LLC.
ALLEN, TEXAS — Micron Technology Inc., a provider of digital memory and storage solutions, has signed an office lease at One Bethany West, a 200,000-square-foot building located in the northeastern Dallas suburb of Allen. One Bethany West is a newly constructed, eight-story building within the 17-acre One Bethany at Watters Creek office park. The deal increases Micron’s total footprint in Allen to 36,500 square feet. The company expects to move into its new space, which will house between 112 and 200 employees, by the end of 2021.