NEW YORK CITY — National general contractor JT Magen has completed The Paramount Club, a 32,000-square-foot hospitality project located on the concourse level of 1301 Avenue of the Americas in Midtown Manhattan. The Paramount Club features TVs, a pool table, fitness/wellness center, business lounge, classroom-style training room, 18-person boardroom and a variety of dining options, including an atrium restaurant, café, grab-and-go market and private dining spaces. Loffredo Brooks Architects designed the club, space for which was repurposed from existing lower levels at the property.
EUGENE, ORE. — Landmark Properties has completed The Standard at Eugene, a 703-bed student housing development located near the University of Oregon campus in Eugene. The community offers 247 units across 265,000 square feet of residential space in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool with a jumbotron, grilling areas, hammocks and cabanas; a fitness center with an indoor rock climbing wall; an academic lounge with private study rooms; a resident club and game room; and onsite parking. The community is Landmark’s second development in Oregon, following the delivery of The Retreat at Corvallis near Oregon State University. The development team for the seven-story community included Ankrom Moisan Architects and Landmark Construction, the in-house construction arm of Landmark Properties.
GREENWOOD VILLAGE, COLO. — Dunton Commercial has purchased Prentice Plaza, a Class A office building in Greenwood Village, a suburb 12 miles south of Denver. Granite Properties sold the asset for $14.3 million, or $88 per square foot. Located at 8101 E. Prentice Ave. within the Denver Tech Center, the 12-story, 162,184-square-foot building was 73 percent occupied at closing.
PHOENIX AND PRESCOTT, ARIZ. — Live Oak Bank has provided a $54 million bridge loan for an Arizona-based owner and operator of seniors housing communities. Loan proceeds were used to retire existing bank debt for a four-property campus portfolio in the metropolitan statistical areas (MSAs) of Phoenix and Prescott Valley. The loan provides a bridge-to-agency option and features a two-year initial term and 24 months of interest-only payments.
REDMOND, WASH. — Washington Holdings has received $43.5 million in refinancing for The Carter on the Park, a six-story apartment property in downtown Redmond. Bruce Ganong and Seth Heikkila of JLL Capital Markets Debt Advisory arranged the loan through PGIM Real Estate on behalf of the borrower. Located at 7508 159th Place NE, The Carter on the Park offers 180 one- and two-bedroom apartments with keyless entry, high-end finishes, stainless steel appliances, fiber internet, high-quality LTV hardwood-like flooring and private patios. Community amenities include a fitness center, rooftop deck, tech bar, two-story bike storage facility, coworking spaces and an interior courtyard with fire pits, grilling stations and ping pong. The 216,220-square-foot property was built in 2016.
WEST SACRAMENTO, CALIF. — Lee & Associates has arranged the sale of a heavy industrial-zoned property at 3961 Channel Drive in West Sacramento. Yara North America sold the asset Greencycle Properties, an affiliate of Teichert Inc., for $17.9 million. Alex Weiss and Greg Pieratt of Lee & Associates represented the seller in the transaction. The site, which was formerly used by Yara International as a fertilizer supply port, was decommissioned a year ago. Situated on 23.4 acres, the asset includes one existing building, rail spurs, 5.5 acres of undeveloped industrial land and direct access to the Sacramento Deep Water Ship Channel.
CHICAGO — AmTrust RE has acquired Parkline Chicago, a 213-unit luxury apartment tower in Chicago’s East Loop neighborhood. The sales price and seller were undisclosed. The 26-story property is located at 60 E. Randolph St. Totaling 210,000 square feet, the building features 189 rental units and 24 penthouses. Amenities include a two-story sky lounge, fitness and yoga studio, indoor/outdoor pool with attached sundeck and private dog run. Commercial tenants in the building’s 6,200 square feet of retail space include Smoothie King and Starbucks. Parkline Chicago features unobstructed views of Millennium Park, Buckingham Fountain and Lake Michigan. AmTrust is a longtime investor in the Chicago office market. John Jaeger, Justin Puppi and Jason Zyck of CBRE brokered the transaction.
SHENANDOAH, IOWA — Cleeman Realty Group has arranged the sale of Orchard Corners, a retail center anchored by Hy-Vee in Shenandoah, a city in southwest Iowa. The sales price was undisclosed. Situated on 6.5 acres and shadow anchored by Tractor Supply Co., the property features more than 50,000 square feet of gross leasable area as well as Scooter’s Coffee and McDonald’s outparcels. At the time of sale, the center was 87 percent occupied. Hy-Vee has operated at the property since 1975. Jeremy Scheer of Cleeman represented the buyer and seller, neither of which were disclosed.
ITASCA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a 59,735-square-foot industrial building in Itasca for an undisclosed price. Constructed in 1972 and located at 700 District Drive, the facility features clear heights ranging from 18 to 24 feet, three docks, two drive-in doors and parking for 77 cars. Venture One signed a long-term lease with a tenant prior to closing on the property. Jeff Janda of Lee & Associates represented the undisclosed seller, while Cal Payne of CBRE represented Venture One and the tenant. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
JOLIET, ILL. — Galleria Furniture has signed a 20,000-square-foot retail lease at Marycrest Shopping Center in Joliet. The 171,000-square-foot strip center, located on Jefferson Street, is home to Provena Health, Joliet Bank & Trust, Rent-A-Center, Golden Corral, Dollar Tree, Sidelines Sports Bar, Posh Salon Suites, Clair Beauty Mart, Popus Gourmet Popcorn and Basinger’s Pharmacy. The property is now 93 percent leased. Chris Irwin and Brad Belden of Colliers represented the owner, RMS. Eli Munoz of Wirtz Real Estate represented Galleria Furniture.