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.
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 …
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.
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.
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.
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.
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.
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.
ARLINGTON, TEXAS — SVN has arranged the sale of Fielder Crossing in Arlington, a 132-unit apartment project built in 1981. Todd Franks and Jon Krebbs of SVN marketed the property on behalf of the seller and procured the buyer, an out-of-state private investor. Fielder Crossing is located less than a mile from the University of Texas at Arlington. Units feature nine-foot ceilings, walk-in closets, washer and dryer connections and wood-style flooring. Fannie Mae provided financing for the transaction.
COLLEGE STATION, TEXAS — Marcus & Millichap has negotiated the sale of Landmark on Longmire, a 144-unit apartment property located in College Station. Nick Fluellen, Bard Hoover and Sean Scott of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Landmark on Longmire is located at 2302 Longmire Drive. Constructed in 1977, the property includes a unit mix of 57 percent two-bedroom units. One-third of the units include either washer/dryer connections or furnished laundry appliances. Since 2011, more than $640,000 has been spent on capital improvements, including a 30-year dimensional shingle roof, new signage and exterior paint.