PORTLAND, ORE. – A trio of self-storage facilities throughout the Pacific Northwest has received $9.3 million in refinancing. They include South Medford Self Storage in Medford, Ore.; Iron Gate Storage in Beaverton, Ore.; and Iron Gate Mega Storage in Vancouver, Wash. The storage facilities contain a total of 160,000 square feet. Financing was secured by Peter Norrie of Cohen Financial’s Portland office. It was provided by a Midwestern life insurance company.
SAN DIEGO — 1Mission, a mixed-use residential and retail property in the San Diego submarket of Mission Hills, has sold to Paragon Acquisitions, LLC for $8.6 million. It is located at 4033 Goldfinch Street. The 20,111-square-foot property was developed by CLB Partners. The buyer was represented in-house by Dan Berkus. The seller, Paseo de Mission Hills, LLC, was represented by Michael Burton of Cassidy Turley and Linville Martin of Perry Commercial Real Estate.
SARASOTA, FLA. — Broadstone Net Lease has acquired a three-building medical office portfolio in Florida as part of a sale-leaseback deal. Gulf Coast Surgery Center Inc. was the seller. The portfolio includes a 20,138-square-foot property at 4947 Clark Road and a 24,896-square-foot property at 4937 Clark Road in Sarasota. The deal also included a 5,086-square-foot medical office building at 856 Indiana Ave. in nearby Englewood, Fla. Juan Vega and Pam Pester of Cassidy Turley represented the seller in the transaction.
GERMANTOWN, MD. — A joint venture between Trammell Crow Co. and NVCapital Advisors has completed the purchase of a 55-acre site in Germantown form Multi-Employer Property Trust. Trammell and NVCapital plan to transform the former Orbital Sciences Corporate Campus into a new mixed-use community called Century, which will feature 2.4 million square feet of Class A office space, townhome and apartment units, retail and two hotels. The owners are in final negotiations with a developer for the purchase of two hotel parcels, and expect to begin construction on those sites within a year. The venture has begun marketing the first two residential parcels, which will include 350 apartments and 110 townhomes. They plan to partner with developers for these two parcels in the upcoming weeks and immediately begin site plan approval with Montgomery County. Trammell Crow has already obtained full site plan approval for three office buildings totaling 455,000 square feet. According to the company, the approval positions the owners to quickly respond to build-to-suit and prelease opportunities as they arise in the I-270 office market.
KNOXVILLE, TENN. — 908 Development Group has received final zoning and site plan approvals to develop a pedestrian-to-campus, student housing community near the University of Tennessee. The Standard at Knoxville will offer 508 beds in an urban-infill area of Knoxville. Numerous existing retail establishments are located within walking distance of the project. Rental units will include a mix of one-, two-, three- and four-bedroom apartments, along with a 6,000-square-foot clubhouse. Construction is scheduled to begin in May, with completion and resident move-ins ready for the fall 2014 semester.
BRADENTON, FLA. — NXT Capital has arranged a $12.7 million acquisition loan for Fountain Lake Apartments, a 201-unit property in Bradenton. The property is 97 percent occupied. Charles Foschini of CBRE Capital Markets placed the loan.
CHESTERFIELD COUNTY, VA. — ACHS LLC has acquired a former Hollywood Video property at 11420 Huguenot Road in Chesterfield County for $1 million. South River Pharmacy will occupy most of the 7,421-square-foot property, with Great Clips remaining as a tenant. Richard Thalhimer of Cushman & Wakefield represented the seller, The Salvation Army, in the transaction.
PRAIRIE DU CHIEN, WIS. — USDA Rural Development is in final process of providing a $32.4 million Community Facility Direct loan for Prairie du Chien Memorial Hospital. The loan will be used for the construction of a new 25-bed acute care hospital. Dougherty Mortgage LLC acted as a consultant to assist with the process of obtaining and structuring the USDA loan. The USDA funding for this project is contingent upon the completion of an environmental review process and the recipient meeting the terms of the loan agreement.
INDIANAPOLIS — Milhaus Construction LLC has completed construction on the $6 million Mozzo, a four-story, mixed-use building in Indianapolis. Of the 65 apartments in the building, which include studios and one- and two-bedroom units, 60 percent are leased. The apartments have open-concept floor plans and are between 515 and 1,069 square feet with 9- to 11-foot ceilings, designer fixtures, granite countertops and hard-surface flooring. The property also includes 1,700 square feet of commercial space. The Mozzo is located at 531 Virginia Ave., in the heart of downtown Indianapolis. Gene B. Glick Co. manages the property.
MIDDLETOWN, OHIO — Luttner Real Estate Investment Services has arranged the sale of a Social Security Administration building for $2.2 million in Middletown, about 90 miles southwest from Columbus. The 7,760-square-foot building is located at 3860 Towne Blvd. The lease has eight-and-a-half years remaining on the initial 10-year lease term. Dan Lariccia of Luttner represented the seller in the transaction, a private developer.