JONESBORO, ARK. — Binswanger has arranged the sale of a single-story 188,771-square-foot manufacturing and warehouse facility located at 3100 Nordex Drive in Jonesboro. The industrial facility is situated on a 195-acre parcel in the Craighead Technology Park, which is located three miles from the future Interstate 555. TrinityRail Maintenance Services Inc., an operating unit of TrinityRail Group LLC, purchased the asset from Nordex USA. Nordex invested $100 million to build the wind turbine production plant in 2008. Holmes Davis of Binswanger’s Dallas office represented Nordex in the transaction.
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HOLLY SPRINGS, N.C. — Capital Advisors has arranged $17.2 million in refinancing for Main Street Square, a mixed-use development in Holly Springs, a suburb of Raleigh. The portion of the Class A property acting as collateral for the loan includes 172 apartment units and 32,285 square feet of commercial space. Main Street Square also includes 70,000 square feet of office and retail space, a 6,000-square-foot medical office building, 101 townhomes and 16 cottage homes. Cooper Willis of Capital Advisors’ Charlotte office arranged the 10-year loan with a fixed interest rate and 30-year amortization schedule through Morgan Stanley on behalf of the borrower, MSS Apartments LLC.
CHICAGO, MARION AND ITASCA, ILL. — Capital One Specialty Healthcare Real Estate, part of Capital One Bank’s Commercial Real Estate Group, has provided $31.8 million in HUD 232/223(f) loans for a portfolio of skilled nursing facilities in Illinois. A loan of $8.8 million will be used to acquire a 125-bed property in Marion built in 1966 and renovated in 2011. Loans of $17.9 million and $5.1 million will be used to refinance a 228-bed facility constructed in 1996 in Chicago and a 144-bed facility built in 1975 with an addition in 1983 in Itasca. The fixed-rate loan for the Marion facility has a 30-year term. Those for the Chicago and Itasca facilities have terms of 35 years. Joshua Rosen, who leads the company’s agency healthcare efforts from the company’s Chicago office, originated the loan. The undisclosed borrower has closed several deals with Capital One Multifamily Finance during the past year and has extensive long-term care and real estate management experience.
FORT WAYNE, IND. — Atlanta-based ARA has brokered the $24.2 million sale of Oak Crossing Apartments, a 222-unit, Class A apartment community located in Fort Wayne. Steadfast Income REIT Inc., an Orange County, Calif.-based public non-listed REIT, purchased the property. Completed in 2013, Oak Crossing consists of one-, two- and three-bedroom apartments. The property is currently 94 percent occupied with average market rents of $996. The apartment community is located within a mile of the newly built Parkview Regional Medical Center. Todd Stofflet and Steve Kemmerling of ARA’s Chicago office represented the seller, Dupont & Tonkel Partners LLC, which developed and built the property.
ST. LOUIS — Hilliker Corp. has arranged the sale of a more than 20,000-square-foot retail property in St. Louis. The property, located at 11555 Gravois Road, formerly served as Johnny’s Market, a family owned and operated grocery store that closed its doors in 2012 after 68 years in business. K2 Commercial Group, a St. Louis-based real estate and retail developer, purchased the property for an undisclosed price. The new owner plans to redevelop the 2.5-acre property. Will Aschinger of Hilliker Corp. represented the seller, Jon-Del Investments LLC. K2 Commercial Group represented itself in the transaction.
TOLEDO, OHIO — Marcus & Millichap has arranged the $3 million sale of a 251,599-square-foot retail property in Toledo. Alexis Park Shopping Center is located at 5860 Lewis Ave. The property represented a value-add opportunity for an investor as the shopping center had a below market occupancy level. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a partnership. The Marcus & Millichap team also represented the buyer, a limited liability company.
WORCESTER, WESTBOROUGH AND STOUGHTON, MASS. — Ranaan Katz has added to its RK Centers portfolio with the acquisition of three retail properties in Massachusetts. In the first transaction, RK Centers purchased the 386,853-square-foot Worcester Crossing for $49 million from Madison Partners. Located along Route 146 in Worcester, the retail center is anchored by Walmart and Sam’s Club. RK Centers also acquired the 185,279-square-foot Westborough Speedway Plaza from Regency Centers for $18.7 million. Anchored by Stop & Shop and Burlington Coat Factory, the center is located along Route 9 in Westborough. In the final transaction, the company purchased an 89,126-square-foot single-tenant triple-net leased Kohl’s location in Stoughton. Stoughton Marketplace DST sold the property for $20 million.
NEW YORK CITY — Chesapeake Lodging Trust has received $60 million in refinancing for the 122-room Holiday Inn New York City Midtown – 31st Street and the 185-room Hyatt Place New York Midtown South. The term loan was refinanced with a new 10-year, $90 million fixed-rate mortgage loan secured by the two previously mentioned hotels. Provided by Goldman Sachs Mortgage Co., the loan carries a fixed interest rate of 4.3 percent per annum. Additionally, the loan features two years interest only and a 30-year amortization schedule.
NEW YORK CITY — Besen & Associates has brokered the sale of a four-property multifamily portfolio located in Manhattan’s Inwood section for $18.4 million or $145,000 per unit. Located at 150-152, 158-160 and 170 Vermilyea Ave., the 111,420-square-foot, 129-unit portfolio features five studio units, 35 one-bedroom, 69 two-bedroom and 20 three-bedroom apartments. Morris Arlos, Greg Corbin and Amit Doshi of Besen & Associates represented the seller and procured the buyer, a local private investor, in the transaction.
BRYN MAWR, PA. — Bryn Mawr-based WP Realty has completed the disposition of four retail centers in metro Boston. The portfolio consists of the 71,210-square-foot Cushing Plaza in Cohasset, Mass.; the 104,923-square-foot Shaw’s Plaza in Easton, Mass.; the 57,181-square-foot Shaw’s Plaza in Hanover, Mass.; and the 45,882-square-foot Hannaford Bros. in Waltham, Mass. The portfolio was 97 percent leased to variety of tenants, including Shaw’s, Hannaford Bros., Walgreens, Rite Aid, Bank of America and Citizen’s Bank.