Property Type

HOFFMAN ESTATES, ILL. — Leopardo Cos. has started construction on four suburban Chicago municipal projects totaling $31 million. One of the projects includes the $15.5 million, 70,000-square-foot West Chicago Community Recreation Center at Reed-Keppler Park. The facility will feature a three-court gymnasium, three-lane elevated jogging track, large fitness equipment area, dance/aerobic studio and group fitness room and indoor playground. Leopardo also began work on the 11.2 million, 31,000-square-foot New Lenox Police Department, which will include a multi-purpose/training room and staff areas for code enforcement, investigations and command staff. The last two projects include the $2.2 million, 10,000-square-foot Bartlett Fire Station and the $2.1 million, 10,000-square-foot expansion of South Barrington Village Hall, a two-story, 7,000-square-foot police station.

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MISSION, KAN. — NorthMarq has arranged $10.8 million in first mortgage refinancing for Foxfire Apartments, a 280-unit multifamily property in Mission, a southern suburb of Kansas City. The market-rate apartment property is located at 5020 Glenwood Road. The 10-year loan includes a 30-year amortization schedule. Brent Blake, vice president of NorthMarq’s Kansas City regional office, arranged the financing through Freddie Mac. Foxfire Apartments LLC was the borrower.

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MILWAUKEE — F.J.A. Christiansen Roofing Co. Inc., a branch of national commercial roofing provider Tecta America Corp., has completed the installation of a 100,000-square-foot rooftop athletic field in Milwaukee. The field, located on the top of a 780-car parking facility on the Milwaukee School of Engineering (MSOE) campus, will be used for collegiate soccer and lacrosse and other youth sports. The roof structure will also slow the rate of stormwater runoff. Hunzinger Construction Co. served as the general contractor for the project. Uihlein-Wilson Architects designed the athletic field. The development opened August 23.

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MADISON HEIGHTS, MICH. — Bernard Financial Group has arranged a $1.4 million loan for Farnum Plaza, a 24,400-square-foot retail property in Madison Heights. The shopping center is located at 27611-27651 John R Road, about 14 miles north of Detroit. Farnum Plaza LLC was the borrower. Kevin Kovachevich of Bernard Financial Group originated the loan. Symetra Life Insurance Co. was the lender.

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ALLENDALE, N.J. — NorthMarq Capital has arranged $27.7 million in first mortgage refinancing for a flex portfolio in Allendale, located about 25 miles north of Newark. The properties total 368,556 square feet and are located at 1, 2, 3, 5, 6 & 7 Pearl Court and 59 Route 17. James Murphy, managing director at NorthMarq’s Boston regional office, arranged the five-year loan, which includes a 25-year amortization schedule. High Street Equity was the borrower, and a life insurance company provided the loan.

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NEW YORK CITY — Meridian Capital Group LLC has arranged $16.4 million in construction financing and $5.7 million in joint venture equity for a condominium project in Queens. A local bank provided the two-year loan, which includes interest-only payments. Stonecutter Capital Management LLC provided the equity. Emanuel Westfried, a vice president at Meridian Capital, negotiated the joint venture equity on behalf of Rising Developers Group LLC and Stonecutter Capital Management LLC. The condominium development is located at 42-60 Crescent St. and will include 40 units.

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MANSFIELD, CONN. — Washington Trust’s commercial real estate group has provided $6.9 million in construction financing for a 32,175-square-foot retail property and a 5,000-square-foot stand-alone retail building in Mansfield. Storrs Center Alliance LLC was the borrower. Price Chopper Supermarket will occupy the 32,175-square-foot property. The development is located in downtown Mansfield, across from the University of Connecticut and is the latest phase of the Storrs Center project that Leyland Alliance LLC is developing.

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NEW YORK CITY — Marcus & Millichap has arranged the sale of 115 Powers St., a six-unit apartment property in Brooklyn, for $1.5 million, or $363 per-square-foot. Shaun Riney, Michael Salvatico and Jim Saros, investment specialists in Marcus & Millichap’s Brooklyn office, marketed the property on behalf of the seller, a private investor. Salvatico, Riney and Saros also represented the buyer, a fund manager.

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SAN ANTONIO — CBRE has arranged the sale and financing of Westover Springs, a 296-unit Class A apartment community in northwest San Antonio. The garden-style property, located near the intersection of State Highway 151 and Loop 1604, offers one-, two- and three-bedroom layouts and amenities such as a swimming pool, outdoor fireplace and grilling area, community center and fitness center. Charles Cirar, Ryan Epstein and Michael Wardlaw of CBRE Central Texas multi-housing represented the seller, a joint venture between Carbon Thompson and an equity fund advised by Prudential Real Estate Investors. Jim Kirkpatrick and Jim Richards of CBRE’s Debt and Equity Finance Group arranged the loan with 40/86 Capital. The buyer was Steel Castle Property Partners LLC.

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HARLINGEN, TEXAS — Carter Validus Mission Critical REIT Inc. has acquired the Valley Baptist Health System’s Health and Wellness Center Property in Harlingen for $10.28 million. The property, built in 2007, totals 38,111 square feet and is in close proximity to Valley Baptist Medical Center, the largest hospital in a 50-mile radius. Harlingen is approximately 30 miles east of the McAllen-Edinburg-Mission metro area and 10 miles north of the Mexican border. Carter Validus, a non-traded REIT, is a vehicle of Carter & Associates that focuses on data center and healthcare assets.

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