WINCHESTER, VA. — Capstone Apartment Partners has arranged the sale of Peppertree Apartments, a 194-unit, garden-style apartment community located in Winchester, a city in western Virginia. Atlanta-based CF Lane purchased the apartment property from The Related Cos. for approximately $14.1 million. The community was 96 percent occupied at the time of sale and features a fitness center, swimming pool, tennis courts and two playgrounds. Andrew Klenk, Brian Ford, Beau McIntosh and Todd Conner of Capstone Apartment Partners represented the seller in the transaction.
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PETERSBURG, VA. — Rendina Cos. has completed the development of Southside Regional Medical Arts Pavilion, a $10 million, 32,500-square-foot healthcare facility in Petersburg. The property is located adjacent to the Southside Regional Medical Center at 200 Medical Park Blvd. The facility will be the new home for Southside Regional Medical Center’s Cancer Center and a new women’s imaging center.
BALTIMORE — HFF has arranged the sale of Halstead at Guilford, a 234-unit, 14-story high-rise apartment building in Baltimore’s Guilford neighborhood. The property, renovated in 2006, features a 3,000-square-foot fitness center, rooftop pool, club room, movie theater, library/business center, gaming room, laundry center and gated dog park. The units average 1,147 square feet. David Nachison, Alan Davis, Brenden Flood and Bret Thompson of HFF represented the seller, The DSF Group, in the transaction. Cornerstone Real Estate Advisers purchased the asset for an undisclosed amount.
CHARLOTTE, N.C. — Rooms To Go has renewed its lease of 117,400 square feet of industrial space at 3005 Crosspoint Center Drive in Charlotte. Warren Snowdon and David Hanna of Cushman & Wakefield | Thalhimer represented Rooms To Go in the lease transaction.
SAINT CHARLES, ILL. — Marcus & Millichap has arranged the $5.6 million sale of Charleston Park Apartments, a 71-unit apartment property located in Saint Charles, a Chicago suburb. The sale price equates to $79,225 per unit. James Walsh in Marcus & Millichap’s Chicago office secured the buyer, a long-time client, in the transaction. Charleston Park Apartments is located at 1815 Howard St.
EVANSVILLE, IND. — Summit Real Estate Services has arranged the $1.4 million sale of 6,120-square-foot retail building in Evansville, a city in southern Indiana. Scott Hyatt of Summit Real Estate Services represented the seller, Virginia & Cullen LLC, in the transaction. The buyer was a local private investor. The property, located at 5201 E. Virginia St., serves as the local campus for Regency Beauty Institute.
BEDFORD PARK, ILL. – Owens Corning, a global producer of residential and commercial roofing and asphalt, has signed a lease for 99,313 square feet of industrial space in Bedford Park, located about 15 miles southwest of Chicago. The tenant will use the building for warehouse use. Located at 6969 W. 73rd St., the property is situated on 4.8 acres and is located near I-55, I-294 and Midway Airport. Venture One Real Estate LLC acquired the building in 2013. Larry Much, Ben Cremer and Michael Robbins with NAI Hiffman’s industrial services group represented Venture One Real Estate in the leasing transaction. Scott Deurkop of Jones Lang LaSalle represented Owens Corning Roofing & Asphalt.
COVINGTON, OHIO — A Cincinnati-based recycling company is expanding to a 51,800-square-foot manufacturing facility in Covington, a city located about 29 miles north of Dayton, Ohio. The former Falcon Packaging facility is located at 2000 Mote Drive and has been purchased by Resource – One, a privately held environmental recycling company. Resource – One has a satellite location located at 471 County Road 32 N in Bellefontaine. Tim Echemann of Industrial Property Brokers co-brokered the deal.
BOSTON — The Arlington, an iconic Boston building that has been repurposed into 128 luxury apartments, has begun leasing. One-bedroom units start at $3,200 a month, and two-bedroom apartments start at $6,200 a month. The Arlington is a joint venture between Related Cos. and the Congress Group. Built in 1927, the building formerly served as the Boston Renaissance Charter Public School. Initial occupancy is slated for mid-April. The property is located at 100 Arlington St. Elkus Manfredi Architects served as the architect for the project. Units at the tower include natural white oak hardwood flooring in the living areas, polished marble countertops and custom wood cabinetry in the kitchens and bathrooms and stainless steel appliances.
NEW YORK CITY AND VOORHEES, N.J. — Marcus & Millichap Capital Corp. (MMCC) has arranged $5.3 million in financing for the acquisition of two properties, an 8,992-square-foot, net-leased property in the Bronx and a 16,019-square-foot medical office building in Voorhees. Christopher Marks, an originator in MMCC’s Manhattan office, arranged both loans. Scott Plasky and Steve Siegel in Marcus & Millichap’s Manhattan office represented the borrower in the purchase of the 8,992-square-foot Bronx property. Russ Wachtler and Glen Kunofsky, also in the firm’s Manhattan office, represented the buyer in the medical office acquisition. The Bronx property closed with a 10-year, fixed-rate loan that amortizes over 30 years at 3.9 percent with a 70 percent loan-to-value ratio. The medical office closed with a seven-year, fixed-rate loan that amortizes over 25 years at 4.5 percent with a 72 percent loan-to-value ratio.