INDIANAPOLIS — Hunt Real Estate Capital has provided a $24.2 million loan for the refinancing of Circle City Apartments, a 356-unit multifamily portfolio in Indianapolis. The portfolio comprises six mid-rise buildings that range in size from 24 to 136 units and were built from 1900 to 1929. Hunt sourced the 10-year loan through Freddie Mac. The borrower, Old Northside Capital Partners LLC, purchased the portfolio in July 2015 and subsequently completed $10.9 million in capital improvements.
ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have unveiled three new tenants at the $260 million expansion of Ballpark Village — Sports & Social St. Louis, Davio’s Northern Italian Steakhouse and Baseballism. The 75,000-square-foot retail portion within the second phase expansion is now 92 percent leased. Sports & Social will occupy 9,000 square feet and anchor the base of the three-story retail pavilion overlooking the new infield plaza and Busch Stadium. In addition to a full dining and beverage menu, guests will enjoy a variety of games. Davio’s is an upscale restaurant that originated in Boston. It currently has 12 locations around the country. Baseballism is a baseball apparel retailer with nine stores across the country. Office tenants PricewaterhouseCoopers and ButcherJoseph moved into the PwC Pennant Building last week. It is the first new-construction Class A office tower in downtown St. Louis in more than 30 years. Onelife Fitness expects to open within the retail pavilion in January. The project also includes a Live! by Loews hotel slated to open in the first quarter and a 29-story residential tower slated to open in the second quarter.
YPSILANTI, MICH. — A new 12,296-square-foot healthcare facility known as the IHA Health Center @ EMU has opened. Situated at Eastern Michigan University in Ypsilanti, the health center will provide primary healthcare services to members of the EMU community as well as the community at large. In addition to primary care, the facility will offer women’s health services, urgent care services and an onsite third-party pharmacy operated by Campus Medical Pharmacy. Dr. Lisa Whipple serves as the site medical director for the primary care and gynecology team. The project represents a collaboration between St. Joseph Mercy Ann Arbor hospital and the university. EMU is also constructing an adjacent facility, the EMU Campus Wellness Center, that is set to open in January 2020. The total cost of the combined facilities is $14 million. EMU is the project owner. IHA is one of the largest multi-specialty groups in Michigan and is a wholly owned subsidiary of St. Joseph Mercy Health System.
BETTENDORF, IOWA — NorthMarq has arranged a $12.5 million loan for the refinancing of The Fountains Independent Living in Bettendorf. The seniors housing property is located at 3728 Thunder Ridge Road. Jason Kinnison of NorthMarq structured the loan with an immediate funding of $8.5 million and a construction component in the amount of $4 million, which will be used to complete an addition to the property. The borrower was not disclosed.
PORT HURON, MICH. — Cohen Financial, a division of SunTrust Bank, has secured a $12 million CMBS loan for the refinancing of a 149-room DoubleTree by Hilton hotel in Port Huron, which is located in eastern Michigan along Lake Huron. Cathy Bronkema of Cohen arranged the 10-year, fixed-rate loan, which features a 30-year amortization schedule. JB Real Estate Development Co. was the borrower.
LAKEWOOD, COLO. — Los Angeles-based Gelt Inc. has completed the sale of Westhills Apartment Homes, a multifamily property located at 453 Van Gordon St. in Lakewood, a submarket of Denver. An undisclosed buyer acquired the community for $92 million. Built in 1972 and situated on 16.2 acres, the 27-building property features 400 units in a mix of two studios, 108 one-bedroom layouts and 290 two-bedroom units. Community amenities include two outdoor swimming pools, a fitness center, basketball court, dog park, playground and a clubhouse with kitchen and lounge area featuring WiFi. The garden-style community is within walking distance to the Federal Center Light Rail Station, which allows a convenient commute to downtown Denver.
HENDERSON, NEV. — San Diego-based The ConAm Group has purchased South Valley Ranch, a 292-unit apartment community situated on 17.4 acres at 701 Aspen Peak Loop in Henderson. An undisclosed seller sold the asset for $54.5 million. Built in 1997, South Valley Ranch features 37 two-story buildings offering a total of 104 one-bedroom units, 164 two-bedroom units and 24 three-bedroom units, each with its own patio or balcony. Community amenities include a swimming pool, fitness center, business center, playground, barbecue area, carports and garages.
MESA, ARIZ. — CBRE has brokered the sale of FIVE46, a multifamily community located at 546 S. Country Club Road in Mesa. S2 Capital acquired the property from a joint venture between Security Properties and funds managed by Oaktree Capital Management for $46 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the sellers. Rocco Mandala of CBRE Debt & Structured Finance arranged acquisition financing for the buyer. FIVE46 features 320 apartments, two swimming pools, a resident clubhouse, 24-hour fitness center, lighted dog park, soccer field, children’s playground and picnic areas with barbecue grills.
SANTEE, CALIF. — Colliers International San Diego Region has arranged the acquisition of a two-building industrial asset located in Santee. Poway, Calif.-based Zuantasnid purchased the property from San Diego-based Pearl and Herschel LLC for $4.8 million. Situated on 2.1 acres at 8745-8747 N. Magnolia Ave., the asset features total of 36,345 square feet of industrial space. Evan McDonald and Taylor DeBerry of Colliers represented the buyer, while pat Geary of CEG Advisors represented the seller in the deal.
LACEY, WASH. — Marcus & Millichap has arranged the sale of Stowaway Mini Storage, a self-storage facility in Lacey. An undisclosed buyer acquired the property from limited liability company for $2.6 million, or $136 per rentable square foot. Stowaway Mini Storage consists of two non-contiguous parcels located at 927 Bowker St. SE and 5235 Lacey Blvd. The property features 19,100 square feet of self-storage spaces with units in a variety of sizes. Christopher Secreto of Marcus & Millichap’s Seattle office represented the seller, while Matt Gardner, also of Marcus & Millichap Seattle, represented the buyer in the transaction.