COLUMBUS, OHIO — Lancaster Pollard has arranged both the sale of, and acquisition financing for, Columbus West Park Nursing and Rehabilitation Center, a 100-bed skilled nursing facility in Columbus’ Westgate neighborhood. In the sale transaction, Chad Elliott and Steve Kennedy represented the seller, a family that has owned the property since 1992. The MacIntosh Company purchased the facility for an undisclosed price, expanding the company’s Central Ohio seniors housing portfolio to six communities. Columbus West Park was built in 1984, and the sale included excess land for potential future expansion. In the financing transaction, Chris Mauger and Brendan Healy arranged a balance-sheet loan to fund the acquisition. The financing was structured as a bridge-to-HUD loan.
CHICAGO — U.S. Bank has invested $5.9 million in low-income housing tax credits equity and provided a $6.8 million construction loan for a 30-unit apartment project in the Chicago Lawn neighborhood. Southwest Organizing Project and Brinshore Development are heading up the project that will turn nine vacant buildings into apartments that are below the market rate. The nine buildings will provide two one-bedroom, 16 two-bedroom, 10 three-bedroom and two four-bedroom units. Four of the units will be fully disabled-accessible. Tenants will earn between 30 percent and 60 percent of the area median income, and rents will range from $270 to $1,005 per month. Construction on the buildings, which cover a six-block area, is expected to be complete next June.
EVANSVILLE, IND. — CBRE has assisted Raben Tire Company Inc. in the sale-leaseback of 19 property across five states. A private REIT, Broadstone Net Lease, acquired the assets, which are located in Arkansas, Illinois, Indiana, Kentucky and Missouri. The properties total 450,711 square feet. Raben Tire Co. currently operates 28 stores, three retreading facilities and two wholesale distribution centers. Andrew Sandquist, JC Asensio and Briggs Goldberg of CBRE’s Chicago office, along with Chris Bosworth, Will Pike and Brian Pfohl of CBRE’s Atlanta office, represented Raben Tire Co. in the transaction.
MASON CITY, IOWA — Anchor Housing Development has completed construction of Legacy Manor of Mason City II, a 48-unit affordable seniors housing community, in Mason City, approximately 120 miles north of Des Moines. WNC, a California-based real estate investor, provided $5.9 million in low-income housing tax credit (LIHTC) equity to fund the development. Legacy Manor of Mason City II is a three-story, elevator-serviced building comprised of two-bedroom apartment homes with approximately 800 square feet of space for residents aged 55 and older. Daniel Tonnesen was project developer for the development, which took one year to complete.
CHICAGO — Interra Realty has brokered the sale of a three-property portfolio located in Chicago’s Jefferson Park neighborhood for a total of $3.5 million. The properties include a mixed-use asset at 5802 W. Catalpa Ave. that sold for $2.1 million, and two multifamily properties located at 5402 W. Windsor Ave. and 4518 N. Long Ave. The multifamily properties sold for $657,500 and $702,500, respectively. The portfolio included a total of 32 apartment units and eight commercial spaces. Joe Smazal of Interra Realty represented both undisclosed parties in the transaction.
FORT LAUDERDALE, FLA. — SunTrust Bank has sold SunTrust Center, a two-building, 270,000-square-foot office complex located at 501 and 515 E. Las Olas Blvd. in Fort Lauderdale. Steelbridge Capital purchased the asset for $90 million, according to South Florida Business Journal. The transaction is the largest office building to trade in Broward County’s Downtown submarket in the past 12 months, according to Steelbridge Capital. The asset was 77 percent leased at the time of sale. As part of the transaction, SunTrust committed to long-term retail and office leases in both buildings. Steelbridge Capital plans to implement a multi-million renovation of SunTrust Center, including technology upgrades and aesthetic renovations to the lobby and select common areas. Christian Lee, Amy Julian and Jose Lobon of CBRE arranged a $75.4 million acquisition loan through The Blackstone Group on behalf of Steelbridge Capital.
ST. PETERSBURG AND ORLANDO, FLA. — City Office REIT Inc. has purchased Carillon Point in St. Petersburg and the Research Park Collection in Orlando for a combined $76 million. Carillon Point is a 124,187-square-foot, Class A office building that was fully leased at the time of sale. The property has views of Lake Carillon and Tampa Bay. Research Park Collection is a five-building, Class A portfolio located within the Central Florida Research Park. The buildings total 272,192 square feet and were 93 percent leased at the time of sale.
MIAMI — Santiago, Chile-based Atton Hotels plans to open Atton Brickell Miami, a 275-room hotel located at 1500 S.W. 1st Ave. in Miami’s Brickell district. The hotel is set to open early this month and will feature the Uva bar, Lima restaurant, 4,000 square feet of meeting space, a rooftop pool with cabanas and a fitness center. The 12-story property will also feature views of Biscayne Bay and the Brickell skyline. The hotel is within walking distance to the Metrorail and Metromover transit systems, the Shops at Mary Brickell Village and Brickell City Centre. Rooms will range from standard king and queen rooms and executive suites to Atton Suites, with the introductory hotel rate starting at $149.
HENDERSONVILLE, TENN. — Ryan Cos. US Inc. and LCS have announced plans to build Clarendale of Hendersonville, a $40 million independent living, assisted living and memory care community in the Nashville suburb of Hendersonville. Clarendale of Hendersonville will feature 184 total units on an 11-acre site. The community will be the fourth Clarendale-branded property. Life Care Services, an operational subsidiary of LCS, will manage the community once complete. Ryan Cos. will build the property, and Jack Potter of Nashville-based HFR Design will design the community. Marty Cook of Bone McAllester Norton is providing legal services.
ANTIOCH, TENN. — Walker & Dunlop has closed a $35.2 million HUD 221(d)(4) loan for the construction of Vintage Burkitt Station, a 244-unit apartment complex underway in Antioch, a southeastern suburb of Nashville. The garden-style community will feature a clubhouse, cyber café, business center, fitness center, resort-style pool with outdoor entertainment area, game room and a playground for kids. The property will be the only Class A apartment community in the immediate area, according to Walker & Dunlop. The financing features both construction and permanent components, and the permanent financing was structured as a 40-year, fixed-rate loan. David Strange and Keith Melton of Walker & Dunlop’s Nashville office originated the transaction.