DENVER — JMIR Acquisitions, LLC has purchased the 451-room Hyatt Regency Denver Tech Center for an undisclosed sum. The hotel is located at 7800 E. Tufts Ave. in Denver. The property also features a newly renovated lobby, the new Root 25 Taphouse & Kitchen, and 30,000 square feet of function space, including an 11,000-square-foot ballroom. The seller was Hyatt Equities, (Den) LLC. HREC Investment Advisors served as the exclusive investment banking agent for Hyatt Hotel Corporation. The property will be managed by Davidson Hotels & Resorts.
WOODSTOCK, GA. — Duke Realty has completed the development of Northside Hospital's new 100,797-square-foot, four-story medical office building (MOB), located at 900 Towne Lake Parkway in Woodstock, about 25 miles north of Atlanta. Northside-Cherokee Towne Lake Medical Office Building is fully leased to Northside Hospital and features a variety of outpatient health services and physician practices. Duke Realty Towne Lake Development LLC owns the new facility, which has been submitted for consideration of LEED certification. The MOB's design team includes architect Lyman Davidson Dooley Inc. and general contractor Brasfield & Gorrie.
PLANTATION, FLA. — CBRE has arranged the $21.5 million sale of the five-story, 134,443-square-foot Lakeside Office Center, a Class A office building located at 600 N. Pine Island Road in Plantation. Beverly, Mass.-based Brookwood Financial Partners purchased the property from Invesco Real Estate. CBRE represented the seller in the transaction and secured a $14.7 million acquisition loan on behalf of the buyer. The office building was 75 percent leased at the time of sale. The CBRE team involved in the transaction includes Christian Lee, Charles Foschini, Christopher Apone and Marcos Minaya, all in CBRE's Miami office. Sandra Anderson of Jones Lang LaSalle also assisted in the transaction and now handles leasing for the new owner.
SOUTHAVEN, MISS. — Home2 Suites by Hilton has opened its 22nd U.S. hotel at 6750 Southcrest Parkway in Southaven, about 14 miles outside of Memphis, Tenn. The four-story, 105-room Home2 Suites by Hilton Memphis/Southaven is the brand's third hotel in Mississippi. Cohen Realty Inc. owns the hotel and Vista Host Inc. manages the property. The new hotel features a Home2 MKT for convenience items, a Spin2 Cycle fitness/laundry facility, continental breakfast room, complimentary shuttle to and from the airport, an indoor pool, patio with grills, a dog park and a walking trail.
CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer has arranged the $1.6 million sale of a 6,500-square-foot retail property located at 2400 Chesapeake Square Road in Chesapeake. The buyer, Parker Realty Group, purchased the center from Kelly's at Chesapeake Square LLC for redevelopment. Renovations are underway and should wrap up in January 2014. Starbucks Coffee, Hair Cuttery and Jersey Mikes have signed leases for space at the center. Eric Stanley of Cushman & Wakefield | Thalhimer represented the buyer in the transaction.
CHARLOTTE, N.C. — NorthMarq Capital has arranged $10 million in first mortgage refinancing for Somerstone Apartments, a 360-unit, market-rate multifamily community located in Charlotte. Kevin Jenkins of NorthMarq Capital's Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac on behalf of the borrower, Somerstone LLC.
GLEN ELLYN, ILL. — A joint venture between MedProperties Holdings LLC and the LaSalle Group, both based in Dallas, will soon begin construction of the 46-bed Autumn Leaves of Glen Ellyn. The 27,000-square-foot, one-story memory care community will be located at the northwest corner of Geneva and Bloomingdale roads, about 23 miles west of Chicago. The LaSalle Group will operate the community under its Autumn Leaves brand. Construction of The Autumn Leaves of Glen Ellyn is slated to begin next month, with a completion date set for late 2014. Chicago-based BMO Harris Bank is providing construction financing for the project.
INDIANAPOLIS — Hyde Park Commercial Group (HPCG) has closed a $3.9 million loan for a 188-room unflagged hotel in Indianapolis. The owners plan to use the loan to renovate and rebrand the hotel as a Clarion by Choice Hotels. The loan was arranged through a specialty lender and allows the ownership to refinance their existing debt. Through due diligence, HPCG was able to work with the sponsors to bring in Choice Hotels, assist to obtain a Clarion flag, recommended a new management company and assist with renovation.
DULUTH, MINN. — Doran Construction has completed Bluestone Lofts, a 99-unit student housing project at the University of Minnesota in Stillwater. Summit Management developed the 183,000-square-foot property, which broke ground in September 2012. The BlueStone project is part of more than 1,000 apartment units Doran Construction is building or has completed this year.
WEST DUNDEE, ILL — Marcus & Millichap has arranged the sale of 729 Strom Drive, a 12-unit apartment property in West Dundee, located about 40 miles northwest of Chicago. The property sold for $818,750 in 15 days at 93.6 percent of its original list price. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and the seller, both private investors, in the transaction. The property includes two one-bedroom and 10 two-bedroom units. Recent capital improvements to the multifamily property include new balconies and six updated bathrooms.