PORTLAND, ORE. — The Parker Apartments, a 177-unit, Class A apartment complex in Portland, has received a $35.6-million construction loan. The project will be situated on a 0.92-acre site at 1447 NW 12th Ave. in the city’s Pearl District. It is sponsored by Astor Pacific, LLC. Financing was originated John Taylor of CBRE HMF in CBRE’s Seattle office through the firm’s FHA-insured loan program.
ORLANDO — Pennsylvania Real Estate Investment Trust has sold Orlando Fashion Square Mall for $35 million as part of its previously announced plan to dispose of certain non-core assets. The 1.1 million-square-foot regional mall is anchored by Dillard's, JC Penney, Macy's and Sears. As of Dec. 31, 2012, the mall was 80 percent leased and sales at the property were approximately $233 per square foot.
COLUMBIA, MD. — Developers have broken ground on the $100 million Metropolitan Downtown Columbia, a 380-unit apartment complex. A partnership between Orchard Development, Kettler and Howard Hughes Corp. is constructing the property, which will include 14,000 square feet of ground-floor retail space. The complex is slated to open in late summer 2014. Amenities will include a clubhouse, fitness center, media and game rooms, a courtyard featuring an outdoor screening room, a pool and cabanas.
ALEXANDRIA, VA. — MAC Realty Advisors has arranged nearly $50 million in financing for the development of Braddock Metro Place, a 165-unit apartment community in Alexandria. JW Capital Partners and its local partner plans to break ground on the 10-story property near the Braddock Metro Station this quarter. John Moriarty & Associates will serve as the general contractor. Andrew McAllister, Bruce Levin and Caren Garfield led the MAC Realty team that secured $18.6 million from an insurance company and an additional $29.2 million in senior construction-to-permanent financing from a life insurance company.
ATLANTA — Nightingale Properties has acquired Atlanta's One Hartsfield Centre from a large European pension fund for $10 million. The 147,731-square-foot office property overlooks the north end of Hartsfield-Jackson Atlanta International Airport. Last December, Triumph Motorcycles signed a long-term lease to move its North American headquarters into the property. Mike Shelly and Sonia Winfield of Cassidy Turley represented the seller in the transaction. One Hartfield Centre is the second office building that New York-based Nightingale has acquired in the Atlanta area. The investor also owns retail centers in metro Atlanta.
ASHLAND, VA. — Clemons Warehouse LLC has acquired a 416,930-square-foot office and warehouse facility in Ashland for $2.4 million. Kepley Broscious & Biggs, PLC Trustee was the seller. Robert Porter Jr. of Porter Realty Co./CORFAC International represented the buyer in the transaction.
BLAINE, MINN. — The Blaine Medical Center, a 76,637-square-foot medical office building, has sold for $14.5 million to REIT that owns senior living communities. The medical office, located at 11855 Ulysses St. in Blaine, is fully occupied and anchored through May 2022 by Multicare Associates. Gino Lollio and Scott Niedergang of Marcus & Millichap represented the buyer and seller, a partnership between the anchoring physician group in the building and a local developer, in the deal.
SOUTHFIELD, MICH. —Bernard Financial Group has arranged a $12.3 million mortgage loan for One Northwestern Plaza, an office property in Southfield. The 240,900-square-foot building, located at 28411 Northwestern Highway, was constructed in 1989. The borrower is ONP Owner LLC. Dennis Bernard and Kevin Kovachevich of Southfield-based Bernard Financial arranged the loan.
CHICAGO — Make-A-Wish Illinois, the nonprofit organization that grants the wishes of children with life-threatening illnesses, is renewing and expanding its lease at 640 N. LaSalle St. The nonprofit will expand its office space by 80 percent to 10,787 square feet. The deal will bring the overall occupancy rate in the seven-story building to more than 90 percent. Make-A-Wish has been tenant in the building since 1988, when it leased approximately 995 square feet. Melissa Rubenstein and Brian Atkinson of Jones Lang LaSalle represented the building’s owner, MAC Management Co. Inc. Connor Kerr and Lisa Konieczka of CBRE represented Make-A-Wish in the deal.
HOBOKEN, N.J. — The Milestone Group & Invesco has sold The Juliana, a 128-unit luxury multifamily property in Hoboken for $67 million. AEW Capital Management LP purchased the asset on behalf of the AEW Core Property Trust, the firm’s core open-end fund. Completed in 2007, The Juliana includes two four-story buildings surrounding a 25,000-square-foot courtyard. The property, which is 95 percent leased, offers one-, two- and three-bedroom units averaging 1,068 square feet. Located at 600 Jackson St. and 601 Harrison St., The Juliana is within walking distance to the 9th St. Light Rail station and local bus lines. HFF represented The Milestone Group in this deal.