GREENVILLE, S.C. — Summit Hotel Group has acquired the six-story, 120-room Hilton Garden Inn in Greenville for $127,000 per key. Teague Hunter and Trey Scott of Hunter Hotel Advisors represented the seller, Deean Hospitality, in the transaction.
JACKSON, MICH. — Bernard Financial Group has arranged a $7.6 million loan for Alpine Lake Apartments in Jackson. The property includes 34 two-story apartment buildings and 268 units. Alpine Lake LLC was the borrower. Pillar Capital Finance LLC was the lender. Kevin Kovachevich of Bernard Financial Group originated the loan.
FOREST LAKE, MINN. — Dougherty Mortgage LLC has closed a $4.6 million Fannie Mae loan for the refinancing of Mill Pond II Apartments in Forest Lake, located about 30 miles north of Minneapolis. The borrower was Mill Pond II LLC. The 10-year loan includes a 30-year amortization schedule. The recently constructed 60-unit multifamily affordable housing property is located at 525 4th St.
WAUSAU, WIS. — Midway Hotel Club LLC has purchased the Best Western Midway Hotel at 2901 Hummingbird Lane in Wausau for $1.9 million. The seller was Midway Hotel Group LLC. The two-story hotel features 97 rooms. Amenities include two restaurants and a 10,000-square-foot atrium, pool, hot tub, game room and fitness center. Alok Gupta of @properties Commercial was the sole broker in the transaction.
ANN ARBOR, MICH. — Bloomfield Capital has sold a mixed-use building in downtown Ann Arbor to 212 4th Ave. LLC. Located at 210-216 S. Fourth Ave., the property consists of approximately 20,000 square feet of retail space on the first floor and loft office space on the second floor. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor, represented the seller and the buyer in the transaction.
MADISON, N.J. — The Hampshire Cos. has received $75 million in financing for 175 Park Ave., a 270,000-square-foot corporate headquarters for the Realogy Corp. in Madison. Cantor Commercial Real Estate Lending LP provided the 10-year, fixed-rate financing. The loan will be used to retire existing construction financing that HFF had secured on behalf of the borrower in late 2011. After completing an extensive rehabilitation of an existing structure, the property was completed in March and is built to LEED standards. Amenities include a fitness center, full-service cafe, and conference/team room facilities. Realogy Corp. is a global provider of real estate and relocation services. Jon Mikula and Michael Klein led the HFF team representing The Hampshire Cos.
NORWALK, CONN. — Washington Trust’s Commercial Real Estate Group has provided $9.2 million in financing to MCP Medical LLC, an affiliate of Boston-based Marcus Partners, for the acquisition of a 70,000-square-foot medical office in Norwalk. “This is an attractive property as it is located less than a mile from the Norwalk Hospital and its tenants offer a full range of medical services to area patients,” says Joseph MarcAurele, Washington Trust chairman, president and CEO.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 359 Manhattan Ave., an eight-unit mixed-use property located in Brooklyn, for $2.2 million. Michael Salvatico, Shaun Riney and Jim Saros of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both private investors, in the transaction.
WEST GOSHEN TOWNSHIP, PA. — A 30,000-square-foot office building, located at 1230 American Blvd. in West Goshen Township, about 35 miles west of Philadelphia, has sold for $1.5 million. Jim Lees of West Chester, Pa.-based Swope Lees Commercial Real Estate LLC represented the buyer, a local private investor, in the transaction. Bob Fox of Fox Commercial Real Estate Services represented the seller, a local private family partnership. The property was most recently the headquarters for American Telecast Products and was formerly occupied by MBB Helicopter as its U.S. headquarters. The buyer is planning extensive renovations to the building to create a Class A office space.
CORSICANA, TEXAS — Northshore Harbor Condominiums, located off South U.S. Highway 287 at the end of Spur 294 in Corsicana, has opened its doors. The Northshore Harbor Condos are located on Richland Chambers Lake just outside Corsicana, and it features the Harbor Inn Marina and the Harbor Inn Restaurant & Club. The 36 condominium units are priced in the $170,000 to $270,000 range and feature a private balcony or patio, granite countertops and stainless steel appliances. Amenities include a saltwater pool, clubhouse, fitness center, cyber cafe and private library.