ARLINGTON AND MANSFIELD, TEXAS — Capital Square Realty Advisors LLC has acquired a portfolio of two medical office buildings located in the Dallas suburbs of Arlington and Mansfield. Both properties are 100 percent leased to Arlington Orthopedic Associates. The two-story Arlington building is located at 800 Orthopedic Way and includes 37,100 square feet of space. Built in 2003, the property is adjacent to Baylor Surgicare at Arlington, one block south of Pioneer Parkway and two miles north of I-20. The facility includes general exam rooms, imaging services, physical therapy space and features a carriage porch entrance for patient delivery and departures. The Mansfield property is located at 2801 E. Broad St. and includes 12,560 square feet of medical office space. The single-story building was developed in 2012 on the campus of the 168-bed Methodist Mansfield Medical Center. The facility houses imaging and physical therapy services and is accessible via State Routes 287 and 360.
HOUSTON — HFF has arranged the sale of the Aloft Houston Galleria, a 152-key boutique hotel near the Galleria in Houston. HFF marketed the property on behalf of the seller, HEI Hotels & Resorts (HEI). HEI will continue to manage the property. The select-service hotel is situated on nearly an acre at 5415 Westheimer Road, less than one mile from I-610. Built in 2009, the five-story Aloft by Starwood-branded hotel has 112 king, 30 double queen, five accessible king and five accessible queen guest rooms. The pet-friendly hotel features an indoor heated pool, a 24-hour fitness center, the camp Aloft program for kids aged two to 12, and 500 square feet of meeting space. Dan Peek, John Bourret, Colby Mueck and Austin Brooks of HFF represented HEI.
HOUSTON — Q10 Kinghorn, Driver, Hough, & Co. has secured a $3.3 million, 10-year Fannie Mae loan with a 4.3 percent fixed rate for Bristol Court Apartments located in west Houston. The property includes 164 units and is 99 percent occupied. Q10 KDH is a Texas-based full service commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.
DETROIT — Bernard Financial Group has arranged a $125 million CMBS loan for the acquisition of the Compuware Building, a 15-story, 1 million-square-foot office tower located at One Campus Martius in downtown Detroit. The acquisition includes an adjacent 10-story parking garage with 2,700 spaces. The borrowing entity is 1000 Webward LLC, a joint venture between Bedrock Real Estate Services and Meridian Health Plan. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan.
CHICAGO — The Virgin Group has opened its first property, Virgin Hotels Chicago. The new hotel brand will join a portfolio of hospitality companies led by Virgin Group and its founder, Sir Richard Branson. Virgin Hotels Chicago is located in Chicago’s Loop district in the historic Old Dearborn Bank Building at 203 N. Wasbash Ave. The 26-story Art Deco building includes 250 guestrooms, including 40 one-bedroom suites and two penthouse suites. All guestrooms are divided into two spaces by sliding doors. The dressing rooms include a full vanity, make-up desk and mirror, an extra-large shower with a bench and his and hers closets. Several of the building’s original features remain intact and are showcased throughout. Some of those include a 1920s oak cigar bar that serves as the hotel’s front desk, ornate brass elevator doors and an original mail slot and chute. Virgin Hotels plans to open a second location in Nashville in the summer of 2016 and a third property in New York City in 2017. The team will announce two additional locations by the end of 2016, with the brand planning to open 20 locations by 2025.
DOWNERS GROVE, ILL. — Adelphia Properties has brokered the $450,000 sale of a 5,000-square-foot freestanding retail building in Downers Grove. The property, which formerly housed Play It Again Sports, is located at 1628 Ogden Ave. George Spirrison and Simeon Spirrison of Adelphia Properties represented the seller, a private investor. Another private investor purchased the property at its full list price.
Omaha’s office market finds itself in a favorable position at the start of 2015. Local economic indicators are solid, absorption has been positive year over year, and vacancies across the board are declining. One big reason is that Omaha businesses are growing. The low vacancy rate of Class A space is driving an appropriate amount of new construction, and Omaha’s abundant supply of quality Class B office space is expected to accommodate demand. Class A Advantage As businesses compete for the best and brightest employees, office space becomes an important hiring tool, causing businesses to look for inviting buildings and spaces in locations with enhanced amenities. This trend has increased activity in Omaha’s Class A office market, driving down the vacancy rate and spurring new construction. Omaha’s Class A vacancy rate stood at 5 percent at the end of the third quarter of 2014. The average asking rent was $24.95 per square foot on a gross basis, up 4 percent since the start of 2014. The uptick in Class A rents is likely to continue Corporate headquarters and speculative buildings are spurring the Class A construction boom. Local businesses such as Millard Refrigerated Services, Tenaska, Gavilon, TD Ameritrade, NorthStar Financial …
ST. ROBERT, MO. — L3 Corp. has arranged the lease of a 10,000-square-foot retail building in St. Robert, 32 miles northeast of Lebanon, Mo. Dollar Tree will occupy space within Liberty Commons located at Liberty Drive. The landlord is American Realty and Development LLC. L3 Corp. represented the tenant in the transaction.
HAMILTON, N.J. — NorthMarq Capital has arranged a total of $41 million in refinancing for a portfolio of four multifamily properties in Hamilton. The portfolio includes the 336-unit Winding Brook Apartments, the 240-unit Zachary Arms Apartments, the 128-unit Yorkshire Apartments and the 166-unit Hamilton Arms Apartments. The transactions were structured with 15-year terms and 30-year amortization schedules. Robert Ranieri of NorthMarq’s Greater Westchester NY/CT office arranged the financing through NorthMarq’s seller-servicer relationship with Freddie Mac.
ROCKY HILL, CONN. — West Hempstead, N.Y.-based GTJ REIT has acquired a single-story industrial property in Rocky Hill for an undisclosed price. Situated on 12 acres, the 92,500-square-foot property was retrofitted and renovated in 2008. The facility is currently leased and occupied through June 2023 by the Connecticut Lottery Corp. This is GTJ’s first acquisition of 2015; in 2014, the firm completed five transactions across the tri-state area. Terms of the transaction were not released.