Property Type

Meridian Capital Group Arranges $43.8M Acquisition Loan for Apartment Community in Lakemoor, Ill.

by Danielle Everson April 9, 2015

LAKEMOOR, ILL. — Meridian Capital Group has arranged a $43.8 million agency loan on behalf of Strategic Properties of North America for the purchase of The Meadows Apartment Homes in Lakemoor. The 12-year Fannie Mae loan features a competitive fixed-rate below 4 percent and four years of interest-only payments. Shaya Ackerman in Meridian Capital Group’s New York office arranged the loan for the borrower. The Meadows Apartment Homes includes 496 units plus additional acreage with entitlements to construct up to 224 more units. The borrower, Strategic Properties of North America, purchased the asset from GE Capital.

April 9, 2015

Illinois Industrial Midwest

Darwin Realty & Development Arranges 44,288 SF Industrial Lease in Skokie, Ill.

by Danielle Everson April 9, 2015

SKOKIE, ILL. — Darwin Realty & Development Corp. has arranged a 44,288-square-foot industrial lease at 3712 Jarvis Ave. in Skokie. CenterPoint Properties leased the space, which is within an 89,441-square-foot building, to Eco-Brite Linens, a company that specializes in laundering linens for assisted living facilities. David Conroy and Tim Gallagher of Cawley Chicago represented the tenant in its 10-year lease. Dan Prendergast of Darwin Realty represented the landlord.

April 9, 2015

Illinois Midwest Restaurant Retail

Mid-America Represents Heavy Metal-Themed Restaurant in Expansion to Schaumburg, Ill.

by Danielle Everson April 9, 2015

SCHAUMBURG, ILL. — Mid-America Real Estate Corp. has arranged a retail lease on behalf of Kuma’s Corner in Schaumburg. Kuma’s Corner will occupy 3,747 square feet at Woodfield Village Green, which is located at the intersection of Golf and Meacham roads. Kuma’s is a casual dining restaurant and bar with a heavy metal theme. The new location is expected to open summer 2015. Steve Frishman and Andrew Becker of Mid-America represented the tenant in the transaction. In addition to the Schaumburg lease, Kuma’s operates two existing locations in Chicago, which are located at 2900 W. Belmont Ave. and 666 W. Diversey Parkway.

April 9, 2015

Industrial Midwest Wisconsin

DTZ Barry Brokers Sale of Distribution Center in West Allis, Wis.

by Danielle Everson April 9, 2015

WEST ALLIS, WIS. — DTZ Barry has brokered the sale of a 69,820-square-foot distribution center in West Allias. 1650 S. 108th St. LLC purchased the industrial property, which is located at 1650 S.108th St., from DDP LLC. Jim Young and Kurt Van Dyke of DTZ Barry brokered the transaction. Investor 1650 S. 108th St. will lease the property to Hajoca Corp., a privately held distributor of plumbing, heating and industrial supplies.

April 9, 2015

Hospitality Texas

MCR Completes Renovation of The Residence Inn By Marriott in Killeen

by Haisten Willis April 9, 2015

KILLEEN, TEXAS — MCR Development LLC has completed a renovation of the Residence Inn by Marriott Killeen, a 109-suite hotel located at 400 E. Central Texas Expressway in Killeen. The hotel’s renovation featured furniture upgrades and fresh paint throughout the lobby, meeting spaces and in all guest suites. In addition, a communal table was installed in the lobby that guests can use to gather and socialize. All new beds were added to each guest room as well as an amenity shelf in each suite’s bathroom. Residence Inn by Marriott Killeen is located five miles from Fort Hood, a military base, and in proximity to Belton Lake Outdoor Recreation Area, Texas Thunder Speedway, Killeen Mall and Stone Tree Golf Club. All guest suites feature kitchens with separate living areas and 32-inch TVs. Hotel amenities include an outdoor swimming pool, a barbecue and picnic area and free high-speed Internet.

April 9, 2015

Loans Multifamily Texas

LMI Capital Arranges $11M for Refinance of Apartment Complex in Metro Houston

by Haisten Willis April 9, 2015

SUGAR LAND AND MISSOURI CITY, TEXAS — Brandon Brown of LMI Capital has arranged $11 million in debt for the refinance of a garden-style apartment complex in the Sugar Land/Missouri City submarket of Houston. Brown secured the 10-year, fixed-rate Fannie Mae loan, which will provide cash out proceeds , on behalf of the unnamed borrower. A portion of the cash out was earmarked for interior and exterior property upgrades. The non-recourse loan features a 4.2 percent interest rate and a 30-year amortization schedule.

April 9, 2015

Loans Multifamily Texas

Pillar Arranges $9.2M Loan for Multifamily Property in Metro Dallas

by Haisten Willis April 9, 2015

FRISCO, TEXAS — Pillar has arranged a $9.2 million Fannie Mae acquisition loan for Stonebrook Village, a multifamily affordable housing property. Stonebrook Village includes one-, two- and three-bedroom apartment units located in Frisco. The property was developed in 1994. Marc Cesare of Pillar’s Dallas office originated the fixed-rate, 10-year term loan with a 30-year amortization schedule. Stonebrook Village is located near the North Dallas Tollway and just north of the new Dallas Cowboys world headquarters scheduled for completion in 2016.

April 9, 2015

Retail Texas

M&M Arranges Sale of Retail Property in Metro Houston

by Haisten Willis April 9, 2015

LEAGUE CITY, TEXAS — Marcus & Millichap has arranged the sale of Centre At South Shore Harbour, a 28,150-square-foot retail property located in League City. Matthew Mignerey and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Mignerey and Hargrove also secured and represented the buyer, a private investor. Centre At South Shore Harbour is located at 2800 Marina Bay Drive.

April 9, 2015

Office Texas

Caddis Sells Southwest Medical Portfolio to Griffin-American Healthcare REIT III

by Haisten Willis April 9, 2015

DALLAS AND HOUSTON — Caddis has sold its southwest medical office building portfolio to Griffin-American Healthcare REIT III Inc. The portfolio, totaling 182,528 square feet, includes two medical office buildings located in metro Houston, one medical office building in metro Dallas in addition to a hospital/medical office building complex in Durango, Colo. The Texas properties include Winding Way Medical Plaza, a two-story, 27,405-square-foot building, which was built in 2008 and is located in Friendswood. It is 92 percent occupied. Memorial Hermann is the anchor tenant; South Texas Medical Clinic, a two-story, 55,000-square-foot medical office building located in Wharton. It is fully leased to Memorial Hermann Medical Group. Services in the building include family practice, internal medicine, obstetrics/gynecology, neurology, radiology and a lab and pharmacy. It was built in 1987; Keller Medical Plaza, a 31,070-square-foot, retail-style building, which was completed in 2011 in Keller. It is 94 percent leased, primarily to Texas Health Resources (THR) and THR affiliates, including anchor primary care and sports medicine tenants.

April 9, 2015

Maine Northeast Office

North River Co. Buys Portland Square for $66M

by Amy Works April 9, 2015

PORTLAND, MAINE — North River Co., an affiliate of Waterfront Maine, has acquired Portland Square in downtown Portland for $66 million. Located at One and Two Portland Square, the two-building property features 260,000 square feet of office and retail space as well as adjacent and underground parking areas. Originally constructed in the late 1980s, the property is currently 97 percent leased to a variety of tenants, including TD Bank, Wells Fargo, Prudential and Stone Coast Fund Services. Drew Sigfridson of CBRE | The Boulos Company represented the buyer in the transaction. The seller was a REIT that had owned the property for nearly a decade.

April 9, 2015

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