BERKLEY, MICH. — Alliant Capital LLC has closed a $9.6 million loan for the refinancing of Oxford Park Towers, a 214-unit multifamily property in Berkley, about 15 miles north of Detroit. Built in 1974, Oxford Park Towers includes one- and two-bedroom units. The seven-year loan includes a fixed interest rate and a 30-year amortization schedule.
SULLIVAN, WIS. — Breakout Investments LLC has purchased a 20,000-square-foot industrial building and three self storage buildings totaling 18,000 square feet in Sullivan. Hotchkiss LLC and Sullivan Self Storage LLC were the sellers of the properties, which are located at W2355 Highway 18, about 40 miles west of Milwaukee. Zach Noble of Dickman Co. Inc./CORFAC International was the broker in the transaction.
BOSTON — Colliers International has arranged $40 million in financing for Lenox Hotel, a 12-story, 213-key boutique hotel in the heart of Copley Square in Boston’s Back Bay neighborhood. Colliers worked on behalf of Saunders Hotel Group of Boston (SHG) to secure two notes from People’s United Bank. The new financing includes a $37.5 million, 15-year, fixed-rate loan and a $2.5 million revolving-credit facility. Kevin Phelan and John Broderick led the Colliers’ Boston-based Capital Markets team. Since acquiring the hotel in 1963, SHG has funded and overseen a series of restorations. Recent renovations include upgrading each guest room and the building’s entire façade. SHG also added restaurants City Table, City Bar and Sólás Pub.
NASHUA, N.H. — Linear Retail Properties LLC has acquired Daniel Webster Crossing, a 28,030-square-foot shopping center in Nashua for $6.2 million. Panera Bread, Jos. A. Bank and T-Mobile anchor the property, which is located at 8 Spit Brook Road, about 18 miles south of Manchester. Daniel Webster Crossing is Linear Retail’s fourth acquisition in the Daniel Webster shopping district. The shopping center has 11,302 square feet of space available for lease. Joel Kadis, partner of leasing, and Evan Eisenhardt, leasing representative, at Linear Retail will handle the leasing at the newly acquired center. George Kobaly of GEM Realty represented the seller of Daniel Webster Crossing.
BOSTON — NorthMarq has arranged a $5 million first mortgage loan for the refinancing of The Beebe Building, a 41,165-square-foot office building in Boston. The multi-tenant office building includes ground-floor retail. Financing was based on a 10-year term and a 25-year amortization schedule. Joseph Hegenbart, senior vice president and managing director of NorthMarq arranged the financing for the borrower. A life insurance company provided the loan.
WELLS, MAINE — Fantini & Gorga has arranged a $4.9 million loan for the refinancing of a freestanding CVS/pharmacy in Wells, located about 33 miles south of Portland. Casimir Groblewski, managing director at Fantini & Gorga, represented Wells Realty LP, an affiliate of a Massachusetts-based development company, in the transaction. A regional financial institution provided the loan. The 13,225-square-foot building is located at 924 Post Road near I-95. It features a double-lane drive thru, one-hour photo lab, high volume pharmacy layout and more than 50 parking spaces.
ROUND ROCK, TEXAS — NorthMarq has arranged acquisition financing of $52.3 million for Monterone at Round Rock Apartments, a 583-unit Class A multifamily community in the Austin suburb of Round Rock. Alison Williams of NorthMarq’s Tampa office and Stephen Whitehead of the firm’s Dallas office represented the Toronto-based borrower, which will pay a sub-4 percent fixed rate for 10 years with two years interest-only. The loan amortizes over 30 years. Patton Jones of ARA Austin represented the seller in the acquisition.
SAN ANTONIO — Stream Realty Partners has signed Friedrich Air Conditioning Co. to a lease of 17,600 square feet in building two of the Isom Business Center, an industrial property in the Northeast submarket of San Antonio. Friedrich, a manufacturer of residential and commercial air conditioning and refrigeration products, will use the space as a research and development facility. In total, Isom Business Center comprises 175,200 square feet in three buildings. Stream’s Jason Schnittger represented landlord DRA Advisors in the deal, while Chuck King of Travis Commercial Real Estate Services Ltd. represented the tenant.
DALLAS — Commercial real estate services provider Henry S. Miller Cos. will move its corporate headquarters to the Stanford Corporate Centre at 14001 Dallas N. Tollway, where the firm will occupy 25,000 square feet on the 11th and 12th floors. The site is less than two miles from the firm’s previous home of 20 years, Providence Towers on Spring Valley Road. Stanford Corporate Centre, built in 1985, will undergo interior improvements before Henry S. Miller Cos. relocates this fall.
PLANO, TEXAS — HFF has arranged the sale of The Brentdale, a 412-unit multifamily community located at 1515 Rio Grande Drive in Plano. Resource Real Estate is the new owner of the complex, which is situated on 20.96 acres and is currently 93.2 percent leased. Rob Key and Blair Lang led the HFF team representing the seller, a joint venture between Intercontinental Real Estate Corp. and the Pinnacle Family of Cos.
