Property Type

Hammes Co., Centegra Health System to Open $230M Hospital in Illinois

by Christina Cannon August 5, 2016

HUNTLEY, ILL. — Hammes Co. and the Centegra Health System will open the $230 million, 128-bed Centegra Hospital-Huntley on Tuesday, Aug. 9. Hammes began developing the hospital, located approximately 50 miles northwest of Chicago, in February 2014. In addition to general medical and surgical services, the hospital also features a cardiac catheterization lab, two Level II trauma rooms, a Family Birth Center, a special care nursery and a helipad for critical Flight for Life situations. Centegra Hospital-Huntley created 800 construction jobs and 1,000 permanent jobs. Power Construction was the general contractor, and Kahler Slater was the architect of record. Korda/Nemeth Engineering provided engineering services.

August 5, 2016

Illinois Midwest Mixed-Use Multifamily

Joseph J. Duffy Co. Breaks Ground on $12.5M Mixed-Use Building in Chicago

by Christina Cannon August 5, 2016

CHICAGO — Joseph J. Duffy Co. has broken ground on a $12.5 million mixed-use building in Chicago’s Woodlawn neighborhood. Trianon Lofts, to be located at 803 E. 61st St., will consist of 24 two-bedroom/two-bathroom units and 7,000 square feet of retail space. Units, which will average from 900 to 950 square feet, will include 10-foot ceilings, stainless steel appliances, granite countertops, in-unit washers and dryers and be predominantly market rate. Preservation of Affordable Housing (POAH) is the developer, and Urban Works is the project architect. The project is part of the city of Chicago and POAH’s Choice Neighborhoods Partnership, which is redeveloping the former Grove Parc apartments.

August 5, 2016

Illinois Midwest Multifamily Seniors Housing

Colliers Brokers $6M Land Sale for Future Development of Seniors Housing Facility Near Chicago

by Christina Cannon August 5, 2016

LINCOLNWOOD, ILL. — Colliers International has brokered the sale of 13 acres in Lincolnwood, roughly 13 miles northwest of Chicago, for over $6 million. South Bay Partners acquired the land and plans to develop a seniors housing facility, which will include assisted living and memory care, on the site. The property, located at 3400 W. Pratt Ave., is the former headquarters site for Bell and Howell, a media equipment supplier. Steven Kohn of Colliers International represented the seller, CenterPoint Properties, in the transaction.

August 5, 2016

Delaware Healthcare Northeast Top Stories

Skanska to Build $178M Women and Children’s Health Building in Delaware

by Christina Cannon August 5, 2016

NEWARK, DEL. — Skanska USA will build a $178 million Women and Children’s Health Building for Christiana Care Health System. The facility, to be located in Newark, is slated for completion in January 2020. The eight-story, 387,500-square-foot facility will serve as an expansion to the existing labor, delivery and C-section facility on the Christiana campus. Skanska USA is the general contractor for the project. Work on the site has already begun. The building will feature a neonatal intensive-care unit with private rooms and sleep-in space for families; new and expanded labor and delivery suites; a new labor lounge; private rooms for families after delivery; an expanded triage area; separate admitting and discharge areas; and a continuing care nursery for babies born with health issues. The facility will also offer lab, pharmacy and dietary clinical and support services. The project will also include the expansion of an existing four-level parking garage “Together with Christiana Care Health System and HKS Architects, we will complete a major expansion that provides the Christiana Medical Staff with the resources and space that is required to deliver the highest quality care to patients and their families,” says Ed Szwarc, executive vice president and general manager for New …

August 5, 2016

Multifamily New York Northeast

Rosewood Realty Group Brokers $110M Sale of 14 Multifamily Buildings in Manhattan

by Amy Works August 4, 2016

NEW YORK CITY — Rosewood Realty Group has brokered the sale of 14 multifamily buildings located at 308-310 and 318-340 W. 49th St. in the Hell’s Kitchen neighborhood of Manhattan. Black Spruce Management has acquired the portfolio from The Orbach Group for $110 million. Totaling 136,000 square feet, the portfolio features 273 apartment units. Additionally, the portfolio has approximately 75,000 square feet of air rights, but only 10,000 square feet are usable due to the Special Clinton Zoning District. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.

August 4, 2016

Loans Multifamily New Hampshire Northeast

Berkadia Arranges $37.5M in Financing for Multifamily Property in New Hampshire

by Amy Works August 4, 2016

MANCHESTER, N.H. — Berkadia has arranged $37.5 million in financing for Countryside Village, a multifamily property located at 60 Village Circle Way in Manchester. Jeff Heath of Berkadia originated the loan through Fannie Mae for the borrower, Merion Realty Partners. The permanent acquisition loan features an 80 percent loan-to-value ratio and a 4 percent interest rate. Situated on 40 acres, the 448-unit property features resort-style amenities.

August 4, 2016

Connecticut Multifamily Northeast

RHP Properties Buys Two Manufactured Home Communities in Connecticut

by Amy Works August 4, 2016

EAST HARTFORD, CONN. — Farmington Hills, Mich.-based RHP Properties has acquired two manufactured home communities located in East Hartford for an undisclosed price. The 263-site Rivermead Manufacturing Home Community and the 199-site Colonial Manufactured Home Community are all-age communities, with a focus on senior residents. With this acquisition RHP Properties now owns and operates 30 manufactured home communities with more than 1,200 sites in New England.

August 4, 2016

Loans New Jersey Northeast Office

FM Capital Acquires $6.2M Loan Secured by Century Office Park in New Jersey

by Amy Works August 4, 2016

MANALAPAN, N.J. — FM Capital has acquired the non-performing loan for the Century Office park in Manalapan. The property has an unpaid principal balance of roughly $6.2 million, and the debt is secured by a 77,706 square feet of office space. Situated on 6.7 acres, the three-building office park was built in 1976, 1978 and 1979. Additional terms of the transaction were not disclosed.

August 4, 2016

Industrial Northeast Pennsylvania

Colliers Negotiates $2.8M Acquisition of Industrial Facility in Pennsylvania

by Amy Works August 4, 2016

WEST CHESTER, PA. — Colliers International has arranged the acquisition of an industrial facility located within Birch Run Industrial Park at 16 Hagerty Blvd. in West Chester. Turf Equipment and Supply Co. purchased the property for $2.8 million. The buyer will relocate to the property from Kennett Square, Pa., and occupy 21,670 square feet of the facility, which was the former home of VF Technologies. The remainder of the 35,150-square-foot building is fully occupied by professional services tenants. Larry Bergen of Colliers represented the buyer, while Steve Italiano of Italiano Commercial Real Estate Services represented the seller in the deal.

August 4, 2016

Multifamily Seniors Housing Texas

Heartis Seniors Housing Community Opens in Arlington

by Haisten Willis August 4, 2016

ARLINGTON, TEXAS — Caddis, a healthcare real estate firm headquartered in Dallas, recently held a grand opening for the 81-unit, 67,000-square-foot Heartis Arlington seniors housing community located at 3424 W. I-20 in Arlington. The assisted living and memory care community was developed and is owned by Caddis and managed by Portland, Ore.-based Frontier Management. Amenities at the development include a bistro, internet café, outdoor walking paths, game and activity rooms, barber shop and a fitness center. Services range from assistance with personal activities, including housekeeping and laundry, to daily nursing care and 24-hour emergency response. Austin-based Pi Architects Inc. was the architect for Heartis Arlington, and the Dallas office of Weis Buildings was the general contractor. UMB Bank NA provided construction debt financing.

August 4, 2016

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