BOLINGBROOK, ILL. — Lee & Associates has arranged the lease of 42,680 square feet in Bolingbrook. LMI Solutions, a manufacturer and distributor of replacement toner cartridges, will occupy space at 606 Territorial Drive. Tim McCahill and Brian Vanosky of Lee & Associates represented the tenant. Jason West and Sean Henrick of Cushman & Wakefield represented the landlord, TA Associates Realty, in the transaction.
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NEW YORK CITY — American Realty Capital Hospitality Trust (ARC Hospitality) has entered into an agreement to acquire Equity Inns’ lodging portfolio for $1.93 billion. Subsidiaries of W2007 Grace I and WNT Holdings, which are both indirectly owned by one or more Whitehall Real Estate Funds, are selling the 126-hotel, 14,934-room portfolio. The portfolio is franchised by various global hotel brands, including Hilton Hotels & Resorts, Marriott International, Hyatt Hotels and InterContinential Hotels Group, and includes numerous well-known hotel flags, including Hampton Inn, Hilton Garden Inn, Homewood Suites, Embassy Suites, Courtyard, Residence Inn, Hyatt Place and Holiday Inn. When complete, the acquisition will increase ARC Hospitality’s portfolio to 132 hotels totaling 16,115 rooms. Closing of the acquisition is subject to customary franchisor and lender approvals and the deal is expected to close in fourth quarter 2014. RCS Capital acted as financial advisor to the buyer, while Goldman Sachs & Co. and Deutsche Bank Securities advised the sellers. It is anticipated that Deutsche Bank Securities and Goldman Sachs & Co. will provide financing in connection with the acquisition.
NEW YORK CITY — Delshah Capital has acquired 221 West 17th Street, a loft warehouse building in Chelsea, from Doreen Interiors for $26.4 million. Along with its development partner, On The Level Enterprises, Delshah plans to redevelop the 33,000-square-foot property into a residential condominium building with ground-floor retail space. The redevelopment will include the addition of four floors to create a 10-story multifamily property.
THORNWOOD, N.Y. — CBRE Group’s Westchester/Connecticut office has brokered the sale of two buildings and 97 acres at Thornwood Conference Center in Thornwood. Legion of Christ Inc. sold the assets to EF Academy International Boarding Schools for an undisclosed price. The buyer plans to use the site to expand its main campus in Tarrytown, N.Y. The two buildings total 410,000 square feet and feature a full-service cafeteria and dining room, 300-seat auditorium and conference center, dormitory-style rooms, landscaped courtyard, indoor recreation center, tennis courts and jogging trails. William Cuddy Jr. and Budd Wiesenberg of CBRE represented the seller in the transaction.
JERSEY CITY, N.J. — NAI James E. Hanson has brokered the sale of 106 Harbor Drive, a single-tenant warehouse facility in Jersey City. CenterPoint Harbor LLC acquired the 54,000-square-foot property for $4.6 million. Additionally, the new owners executed a 10-year lease for the property with Iron Mountain Information Management. Tom Ryan and Barry Cohorsky of NAI James E. Hanson represented the seller, a family investor, in the sale. Ryan and Cohorsky also represented the new owner in the lease transaction.
NEW YORK CITY — Meridian Capital Group has arranged $4.4 million in refinancing for 247 Audubon Avenue, a six-story, 42-unit multifamily property in Manhattan’s Hudson Heights neighborhood. The 5-year loan features a 3.25 percent fixed rate and was provided by a regional balance sheet lender. Judah Hammer of Meridian Capital Group arranged the transaction.
LEWISVILLE, TEXAS — Developer Huffines Communities has completed the 444-unit second multifamily phase of Hebron 121 Station, a master-planned community in the Dallas/Fort Worth suburb of Lewisville. This phase includes one- and two-bedroom apartments, as well as a clubhouse with fitness center and media room, swimming pool, 86-foot-wide grotto waterfall and eight cabanas. The first phase of Hebron 121 Station is fully occupied, and construction on the second phase began in January 2013. The master-planned community now includes 678 total multifamily units. Additional residences, as well as office and retail space, are planned. The project team includes architect Humphreys & Partners, general contractor CF Jordan Construction and manager Pinnacle Property Management.
BEDFORD, TEXAS — ARA has brokered the sale of Cottages at Bedford, a 168-unit multifamily property in the Dallas/Fort worth suburb of Bedford. Completed in 1983 and renovated in 2007, the Class B complex includes one- and two-bedroom apartments, as well as a swimming pool with lounging deck, clubhouse, business center and barbecue and picnic areas. The community, which was 94.6 percent occupied at the time of the sale, is located at 2000 Park Place Blvd., in proximity to I-360, State Highway 183, Loop 820, DFW International Airport and local employers such as Bell Helicopter and Texas Health Harris Methodist Hospital. Brian O’Boyle Sr., Brian O’Boyle Jr., Brian Murphy and Jakob Andersen of ARA marketed the asset on behalf of the seller, Australian fund manager Equiti Capital Limited. Locally based Busboom Group was the buyer. Cottages at Bedford is the company’s second Dallas-area multifamily acquisition in the past six months.
SAN ANTONIO — Dougherty Mortgage LLC has arranged a $12 million loan for the refinancing of Townhomes at West Creek, a 220-unit multifamily complex in San Antonio. Located at 1297 W. Loop 1604 N., the property includes two- to four-bedroom residences, plus a swimming pool, fitness facility and playground. Dougherty Mortgage’s Dallas office originated the 10-year loan for Westcreek Townhomes, Ltd.
PLANO, TEXAS — Lee & Associates has arranged an 18,094-square-foot industrial lease in Plano for Circuit Design Specialties, a manufacturer of circuit board products. The tenant will occupy space within a facility located at 3301 E. Plano Parkway, which features 24-foot clear heights, seven exterior loading docks and one drive-in door. George Tanghongs and Brett Lewis of Lee & Associates represented the landlord, First Guardian Group, in the negotiations. Swearingen Realty Group represented Circuit Design Specialties.