PORTLAND, ORE. – An 84,000-square-foot industrial warehouse in Portland has received $2.8 million in first-mortgage refinancing. The single-tenant building is located at 7320 NE 55th Ave. It is occupied by Sapa Profiles. The loan boasts a 10-year term and a 20-year amortization schedule. Financing was arranged by Stuart Oswald of NorthMarq’s Seattle office on behalf of Skyport Properties, LLC. The funds were arranged through the firm’s relationship with a correspondent life company lender.
LAKEWOOD, COLO. — Fox Point Commons, a 55,024-square-foot office and retail complex, has sold to Kensington, LLC for $2.5 million. It is located at 13655-13701 West Jewell Ave. Kensington, which purchased Fox Point as a 1031 Exchange property, was represented by Matt Ritter of Pinnacle Real Estate Advisors. The unnamed seller was represented by TJ Smith of Colliers International.
ATLANTA — The RADCO Cos. has acquired seven multifamily properties in the Atlanta area, expanding its apartment portfolio to 3,000 units. The latest additions include the 132-unit Audubon Town & Country in Fairburn, Ga.; the 94-unit Audubon Brook in Conyers, Ga.; the 98-unit Audubon Way in Lawrenceville, Ga.; the 164-unit Wyntree in Doraville, Ga.; the 63-unit Bella Villas in Doraville; the 104-unit Meadowbrook Manor in Lilburn, Ga.; and the 328-unit Park Lake in Norcross, Ga. The transactions were financed through bridge debt from several lenders and $15.2 million in equity raised during the past 30 days from private sources.
BIRMINGHAM, ALA. — Beech Street Capital LLC has provided a $31 million FHA 223(f) loan for the refinance of Parc at Cahaba River Apartments, a 348-unit Class A luxury apartment community in Birmingham. Chad Thomas Hagwood of Beech Street’s Birmingham office originated the loan, which has a 35-year term with a 35-year amortization schedule. The borrower, Parc Cahaba LLC, developed Parc at Cahaba Apartments in 1999.
ST. AUGUSTINE, FLA. — Canada-based H&R REIT purchased The Shoppes at Mission Trace, a Publix-anchored shopping center at 955 State Road 16 in St. Augustine, for $8.9 million. The 61,000-square-foot retail property was built in 2009 and is 93 percent leased. Tenants include AT&T Wireless, China Wok and a liquor store. Cliff Taylor of CBRE Private Capital Group in Jacksonville, Fla., represented the seller, a private development group based in north Florida.
LAUDERHILL, FLA. — Lauderhill Industrial Portfolio, a three-building small bay warehouse portfolio in Lauderhill, has sold for $2.4 million. The portfolio totals 102,641 square feet and was 57 percent occupied at the time of transaction. The buyer was a Plantation, Fla.-based private investor, and the seller was a Miami-based limited liability company. Douglas Mandel and Greg Zeifman of Marcus & Millichap represented both parties. The portfolio is located at 1711 N.W. 38th Ave. in Lauderhill.
LAKE WORTH, FLA. — A 9,600-square-foot Dollar General at 4400 10th Ave. North in Lake Worth has sold for $1.3 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The buyer was a California-based private partnership and the seller was a local Florida company.
COLUMBUS, OHIO – The Boulder Group has arranged the $8.9 million sale of an 84,000-square-foot JPMorgan Chase office property in Northbrook. The building is fully leased to JPMorgan Chase on a net lease basis with two years remaining on the lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private Chicago-based partnership. The buyer was self-represented in the deal.
LE SUEUR, MINN – Marcus & Millichap Real Estate Investment Services has arranged the sale of Hillcrest Apartments, a 23-unit apartment property located in Le Sueur, for $792,000. Mox Gunderson and Dan Linnell of Marcus & Millichap's Minneapolis office represented the seller, a partnership. Gunderson and Linnell also represented the buyer, a private investor.
KANSAS CITY, MO– Laurus Corp. has agreed to buy the Hilton Kansas City Airport hotel in Kansas City. The hotel, which includes 347 guest rooms, suites and provides 21,000 square feet of meeting space. The seller is an affiliate of RockBridge Capital. The hotel is located at 8801 NW 112th St.