MONTGOMERY, ALA. — Multi Housing Advisors (MHA) has arranged the sale of the 224-unit Bell Station and the 28-unit Watchman Court, two contiguous apartment communities located at 3201 and 3301 Watchman Drive in Montgomery. The communities had an average 93 percent occupancy at the time of sale. The sales price was undisclosed. Jimmy Adams of MHA’s Birmingham, Ala., office represented the sellers, Tritex Real Estate Advisors and Watchman Court Ltd., in the transaction. EBSCO Watchman Dr. LLC was the buyer. Chad Hagwood of Beech Street Capital arranged a Freddie Mac acquisition loan.
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TAMPA, FLA. — Atlanta-based Industrial Developments International (IDI) has signed HD Supply Facilities Maintenance Ltd., a maintenance and repairs product supplier, to a 229,308-square-foot lease. HD Supply will lease space in Madison Business Center, a Class A industrial park in Tampa. The property features 30-foot clear ceiling heights and trailer storage. The tenant will use the space as a distribution center for janitorial suppliers. Brian Rettig and Kevin Hoover of CBRE represented HD Supply in the transaction. Rick Narkiewicz, also with CBRE, represented IDI.
ST. LOUIS — KBS Legacy Partners Apartment REIT, a Newport Beach, Calif.-based public non-traded REIT, has purchased the 200-unit Lofts at the Highlands apartment community in St. Louis for $41.8 million. The Class A property, which totals 246,612 square feet, was 80 percent occupied at the time of sale. Built in 2006, the complex consists of two five-story buildings and is located between downtown St. Louis and the Clayton business district. Mills Properties Inc. will manage the property.
CLARKSVILLE, IND. — Jeff Hudson and his team at George Elkins Mortgage Banking Co. has arranged $18 million in first-mortgage debt to refinance a portion of the 872,000-square-foot River Falls Mall in Clarksville. Developed in 1990 as an indoor regional mall, the property was later redeveloped as an open-air shopping center in 2005. Major tenants of River Falls Mall include Dick’s Sporting Goods, HH Gregg, JoAnn’s Fabrics, Louisville Athletic Club, Old Time Pottery, Value City and Gordman’s. Columbus Pacific acquired the property in December 2011. The financing, which was provided through a CMBS lender as a 10-year, fixed-rate loan with a 30-year amortization schedule, was used to retire the existing debt on the property.
CHICAGO — Brokerage firm @properties Commercial has arranged the $4.5 million sale of a 37,200-square-foot loft office building at 311 N. Aberdeen St. in Chicago. Rick Kosberg of @properties Commercial represented the buyer, N.C. LLC. Denis Ascot of Ascot Realty Group Inc. represented the seller, 311 N. Aberdeen LLC, in the transaction. The property includes a four-story brick building with a lower-level parking garage. The building was 85 percent leased at the time of the sale.
KANSAS CITY — Block & Co. Inc. Realtors has arranged the $2.6 million sale of two buildings near Kansas City's Westport entertainment district. The first property, located at 3947 Broadway St., is home to DaVita Dialysis. 5265 Vance LLC purchased the 7,672-square-foot building for $2.2 million. Max Kosoglad of Block & Co. represented the seller, UC1 LLC, in the transaction. The second property is located at 1913-1915 W. 43rd Ave. Manica Real Estate LLC purchased the two buildings, which total 8,500 square feet, for $400,000. The property will now serve as the new headquarters for Manica Architechture. Max Kosoglad and David Block of Block & Co. represented the seller, 43rd Avenue LLC, in the transaction.
HICKSVILLE, N.Y. — Cushman & Wakefield has completed the $94 million sale of Broadway Mall, a 1.3 million-square-foot retail center in Hicksville, an unincorporated town on Long Island. Andrew Merin, Gary Gabriel, David Bernhaut, Brian Whitmer, Nick Karali, Tom Salanty, Mark Gilbert and John Alascio of Cushman & Wakefield represented the seller, Vornado Realty Trust, in the transaction. The buyer was KKR and Broadway Mall Pacific, a partnership between Pacific Retail Capital Partners, Clifton Realty and Peter Fair of Continuum Partners. More than 90 percent occupied, the mall is anchored by IKEA, Macy's, Multiplex 12 Cinema and Target, which owns its location. Other national retailers include Forever 21, H&M, Old Navy, Victoria's Secret, Foot Locker, Hollister and Buffalo Wild Wings.
MERRIMACK, N.H. — Bradstreet & Chandler and Novaya Real Estate Ventures have acquired Heron Cove Office Park, a 152,308-square-foot, three-building office park in Merrimack. Constructed between 1999 and 2001, the park is among the newest office products in the Greater Manchester/Nashua submarket. Castle Hill Partners sold the portfolio to HCOP Merrimack LLC, a joint venture of Boston-based Novaya Real Estate Ventures and Bradstreet & Chandler. Bill Moylan and Roger Dieker of CBRE/NE represented the seller and procured the buyer in the transaction. Kyle Juszczyszyn and Josh Klimkiewicz of CBRE/NE arranged the financing through East Boston Savings Bank. CBRE/NE’s Roger Dieker, Mike Tamposi and Chris Healey will handle the leasing of Heron Cove going forward. At closing, the park was 59 percent occupied by tenants including Intel Corp., Pennichuck Water Works Inc. and Tyler Technologies Inc.
POTTSTOWN, PA. — Marcus & Millichap Capital Corp. has arranged a $1.3 million loan for the Montgomery County Health building in Pottstown, about 32 miles northwest of Philadelphia. The 10-year loan includes an interest rate of 3.75 percent and a 25-year amortization schedule. The retail and office building is located at 364 King St.
PARSIPPANY, N.J. — Emergency Medical Associates (EMA), a provider of hospital emergency room services, has expanded its headquarters to 70,000 square feet at 3 Century Drive in Parsippany. Jon Williams of Cushman & Wakefield arranged the transaction, which added 24,000 square feet to the organization’s space at the KRE Group property. EMA has been located at 3 Century Drive since 2011, when it initially leased two floors. The expansion added a third.