GREENVILLE, S.C. — Ziff Properties has acquired Garlington Park in Greenville for $5.2 million. The four-building business park comprises office, flex and warehouse space and totals 119,734 square feet. Land Development Inc. sold the property, and The Whitmire Co. and SVN BlackStream arranged the transaction. The buildings were constructed between 2001 and 2008. Garlington Park is home to tenants such as Grey Eagle Traders, Pompeii Motorsports and Fabrico Inc.
CLEVELAND — Cleveland-based KeyBank Real Estate Capital has arranged $118.7 million in financing for a 20-property medical office portfolio located across 12 states. The borrower, Healthcare Trust Inc., will use the loan to refinance existing debt, facilitate new acquisitions and for general corporate purposes. Charlie Shoop and Joe DeRoy of KeyBank arranged the 10-year loan, which features a fixed interest rate of 4.5 percent. Details of the lender and the properties were not disclosed.
NOBLESVILLE, IND. — Embassy Suites by Hilton has opened in Noblesville, just north of Indianapolis. Owned and managed by Sun Development and Management, the hotel features 198 suites and more than 29,000 square feet of meeting space. Each suite includes complimentary Wi-Fi, a large high-definition television, sofa bed, microwave, mini refrigerator, coffeemaker and workspace. The Local Kitchen and Tap is the property’s on-site restaurant. Additional amenities include a fitness center, 24-hour market, indoor pool, business center and hotel shuttle. Nearby attractions include Hamilton Town Center, Ruoff Home Mortgage Music Center, Edge Adventure Parks, the Conner Prairie Living History Museum, and the Palladium at the Center for the Performing Arts.
CHICAGO — Outlook Management Group LLC has begun managing Seven 10 West, a luxury apartment property in Chicago’s River West neighborhood. Developed this year by Outlook Development and Wicker Park Apartments, the 105-unit luxury apartment building is located at 710 W. Grand Ave. The property features 5,000 square feet of ground-floor retail space. Amenities include a fitness center, rooftop patio, kitchen space and bike storage.
SHEFFIELD AND STREATOR, ILL. — SVN | Chicago Commercial has brokered the sale of two properties occupied by Dollar General in Illinois for a combined $2.4 million. One property is located at 435 Railroad St. in Sheffield and the other is situated at 110 E. Livingston Road in Streator. Deena Zimmerman of SVN represented the buyer, who has now purchased six Dollar Stores within 16 months. The seller was not disclosed.
FRANKLIN PARK, ILL. — Darwin Realty has brokered the sale of a 5,000-square-foot industrial building in Franklin Park for an undisclosed price. The property is located at 9129 Belden Ave. Amish Farmers, an organic foods retailer, purchased the property with expansion plans. The company, which sells meats, produce and other groceries, will use the property for warehouse space to supplement its retail outlet. Rollo Dace of Darwin represented the seller, Carbonara Enterprises.
PLAINVIEW, TEXAS — Lonestar Dirt & Paving has broken ground on The Plainview-Hale County Business Park, a 140-acre industrial development in Plainview, a city in West Texas roughly midway between Lubbock and Amarillo. The rail-served site, which is located along the Interstate 27 corridor, formerly housed a beef packing plant that closed in 2013. The timetable for completion of the project, which officially broke ground on Monday, April 23, is nine months.
LAKEWOOD, COLO. – New York-based Castle Lanterra Properties has purchased The Ranch at Bear Creek, a multifamily property located at 3324 S. Field St. in Lakewood, about seven miles southwest of Denver. The acquisition price and name of the seller were not released. Built in 1973, the property features 118 two- and three-bedroom townhomes, 54 two-bedroom units and 29 one-bedroom apartments. Community amenities include a remodeled clubhouse, newly constructed fitness center, two swimming pools, a business center, a spin and yoga room with fitness on demand, an outdoor grilling area with new gas grills, an outdoor lounge with gas fire pit and a recreation room.
BAKERSFIELD, CALIF. – The Mogharebi Group (TMG) has arranged the sale of Case Del Sol Apartments, a 205-unit multifamily community located at 2601 Fremont St. in Bakersfield. A San Fernando Valley, Calif.-based private investment group purchased the property for $12.2 million. Built in 1965, the gated community features a mix of studio and one-bedroom layouts, a swimming pool, 24-hour maintenance and a central laundry facility. Alex Mogharebi, Otto Ozen, Robin Kane and Mark Bonas of TMG represented the buyer and seller, a San Diego-based private investment group, in the deal.
LITTLETON, COLO. – CBRE has arranged the sale of MorningStar of Littleton, an 85-unit assisted living and memory care community in the Denver suburb of Littleton. A joint venture between Kayne Anderson Real Estate and MorningStar Senior Living acquired the property from an institutional investor for an undisclosed price. Lisa Widmier of CBRE’s National Senior Housing team represented the seller. Aron Will, also with CBRE National Senior Housing group, arranged $20.5 million in acquisition financing on behalf of the buyers. CBRE Multifamily Capital originated the 10-year, fixed-rate, interest-only loan through Fannie Mae. MorningStar has operated the property since its completion in 2006, and will continue to do so following the acquisition.
