LOS ANGELES — A joint venture between Canyon Catalyst Fund and Pacshore Partners has sold its 212,700-square-foot West Los Angeles office portfolio for an undisclosed sum. The portfolio contains three properties, including 22619 Pacific Coast Highway in Malibu, and 12901 W. Jefferson Blvd. and 5340 Alla Road, which are both located in Playa Vista. The JV acquired the three properties between July 2013 and March 2015. The sale is the partnership’s first disposition of investments within the Canyon Catalyst Fund, which Canyon Partners Real Estate manages on behalf of CalPERS.
EAST HAVEN, CONN. — KeyBank Real Estate Capital has provided $22.5 million in Fannie Mae refinancing for East Farm Village, a multifamily property located in East Haven. The 240-unit property operates under a Section 8 Housing Assistance Payments contract and provides affordable housing units for low- to moderate-income families. Situated on 7.6 acres, the property features a community room, fitness center, solarium, library, playground, laundry facilities, elevator, on-site security and 24-hour maintenance. Erik Storz and Al Clemente of KeyBank arranged the financing for the undisclosed borrower.
REVERE, MASS. — Nauset Construction has completed the second phase of renovations to the Lighthouse Nursing Care Center in the Boston suburb of Revere. Genesis HealthCare operates the community, which Donahue Architects designed. Phase II included the installation of rooftop mechanical units, new fire protection systems, lighting and finishes throughout the entire third floor. Site work included parking lot and sidewalk reconstruction including handicap accessibility enhancements. Phase I, which The Architectural Team designed, included construction of a three-story, 17,000-square-foot addition and the renovation of an additional 10,000 square feet of existing space, providing the facility with 12 short-term rehabilitation beds; suites for physical, occupational and speech therapy; medical offices; clinical space; and a 2,700-square-foot rehabilitation gymnasium.
LANSDALE, PA. —Marcus & Millichap has arranged the sale of Gwynedd Square Nursing Center, a 181-bed skilled nursing facility in the Philadelphia suburb of Lansdale. Gwynedd Square was built in 1980 on approximately six acres. The facility was 96 percent occupied at the time of sale. The purchase price was not disclosed. Joshia Jandris, Mark Myers, Charles Hilding and Andrew Hilding of Marcus & Millichap represented the seller, a private owner/operator, in the transaction.
AVON, CONN. — Lancaster Pollard has arranged six separate refinancing loans totaling $40.7 million for Apple Rehab, a skilled nursing provider based in Avon, a suburb of Hartford, Conn. The facilities refinanced are The Clipper Home in Westerly, R.I.; T.A. Coccomo Memorial in Meriden, Conn.; Hewitt Health & Rehabilitation Center in Shelton, Conn.; Plainville Health Care Center in Plainville, Conn.; Apple Rehab Colchester in Colchester, Conn.; and Waterbury Extended Care Facility in Watertown, Conn. The facilities total 517 skilled nursing beds. Aaron Becker led the Lancaster Pollard team in arranging the six FHA-insured loans. Each loan has a 30-year term and fixed interest rate. The refinancing will allow Apple Rehab to lower its debt service and increase its replacement reserves.
ENDICOTT, N.Y. — Houlihan-Parnes has brokered the sale of a mixed-use property located at 10 Delaware Ave. in Endicott. An undisclosed buyer acquired the asset for $1.1 million. The property consists of 75 multifamily units, 26,406 square feet of commercial space and an additional loft building that can be converted into 10 apartments. Ed Graf of Houlihan-Parnes represented the undisclosed seller in the deal.
CHICAGO — Mid-America Real Estate Corp. has arranged the sale of 3030 North Broadway in Chicago for $81 million. The 137,618-square-foot shopping center is located between Barry and Wellington avenues. Ohio-based DDR Corp. purchased the center, which is anchored by grocer Mariano’s. Other tenants include XSport Fitness, Starbucks and PNC Bank. Ben Wineman and Joe Girardi of Mid-America represented the sellers, a joint venture between Barrett & Porto Real Estate, The Taxman Corp. and Newport Capital Partners.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 28,050-square-foot industrial building in Milwaukee. The facility is located at 7528 N. Teutonia Ave. Olympic Supply Co., a distributor of bicycle parts and accessories, purchased the building from Delores Kramer Trust. Nick Keys, Roger Siegel and Zach Hansen of the Dickman Co. brokered the transaction.
MITCHELL, S.D. — Dougherty Mortgage LLC has arranged a $3.5 million Fannie Mae loan for the refinancing of Pheasant Ridge Village Apartments in Mitchell, in southeastern South Dakota. The property consists of 64 apartment units and was built in 2014. The 15-year loan includes a 30-year amortization schedule. The loan was arranged through Dougherty’s Minneapolis office for the borrower, Pheasant Ridge Village Apartments LLC.
PAINESVILLE, OHIO — Marcus & Millichap has brokered the sale of Painesville Mini-Storage in Painesville, about 30 miles northeast of Cleveland, for $1.2 million. The 48,240-square-foot facility is located at 649 Hoyt St. The 162 storage units range in size from 100 to 3,600 square feet. The facility has an on-site manager’s office, perimeter fencing, electric gage and concrete drives throughout. Brett R. Hatcher of Marcus & Millichap marketed the property on behalf of the buyer and seller, both limited liability companies.