JACKSONVILLE, FLA. — The 106-unit San Marco Village Apartments, located at 2165 Dunsford Terrace in Jacksonville, has sold for $3.73 million. Jim Sewell and Steve Mack of Hilton Head, S.C.-based Coastal Apartment Advisors represented the seller, 2165 Dunsford Terrace Holdings, in the transaction. The buyer was Aspen Square Management.
RALEIGH, N.C. — The 87,000-square-foot WakeMed Health & Hospitals' Diagnostic Center, located at the corner of New Bern Avenue and Sunnybrook Road in Raleigh at the WakeMed Raleigh Medical Park, has opened. Duke Realty owns and developed the property and will also lease and manage the medical park. The three-story building offers outpatient imaging, lab services and pre-anesthesia testing. It is the first of several healthcare services to be offered in the medical park. Perkins+Will was the architect for the project, and Brasfield & Gorrie was the general contractor.
BATON ROUGE, LA. — Walker & Dunlop has arranged $32.2 million in financing for the 330-unit Indigo Park Apartments, a Class A, garden-style apartment complex located in Baton Rouge. Steven Farnsworth of Walker & Dunlop arranged the seven-year loan with two years of interest-only payments followed by a 30-year amortization through Freddie Mac's CME program.
ALEXANDRIA, LA. — Arbor Commercial Mortgage has arranged a $14.51 million FHA-insured 221(d)(4) loan for the development of the 169-unit Mason Estates, an adaptive re-use and historic preservation project in Alexandria. The former Masonic Home orphanage will be converted into 25 loft units and an additional six buildings containing 144 apartment units will be constructed. Jay Porterfield of Arbor's Plano, Texas, office originated the loan on behalf of Roger Landry, the developer.
ST. PAUL, MINN. — The Ramsey County Regional Rail Authority has selected Jones Lang LaSalle as the property manager and retail leasing agent for St. Paul Union Depot. The historic facility is undergoing a $243 million transformation from a defunct rail station to an active transit center in St. Paul's Lowertown neighborhood. It will be the terminus of the Twin Cities' new light rail transit line, which connects the downtowns of Minneapolis and St. Paul, local and inner-city bus service, taxis, Amtrak and, in the future, high-speed rail service to Chicago.
OAK LAWN, ILL. — The Boulder Group has arranged the $1.1 million sale of a single-tenant Budget Rent A Car property at 8940 S. Cicero Ave. in Oak Lawn. The 2,500-square-foot retail building was developed in 1985 and is fully leased to Budget, which has four years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based partnership, in the transaction. The buyer was a high-net-worth individual in Canada.
COLUMBUS, OHIO — The Connor Group has purchased River Oaks, a 288-acre apartment community in Columbus. The buyer acquired the 24-acre foreclosed property from Wells Fargo Bank. Terms of the deal were not disclosed. River Oaks was built in 1998 and is located between the Columbus suburbs of Hilliard and Upper Arlington. Following the acquisition, The Connor Group now owns and operates nine apartment communities in the market.
JERSEY CITY, N. J. — The Boys & Girls Club of Hudson County will be getting new facilities attached to a new, 422-unit luxury rental building in Jersey City. Developers recently broke ground on the 30,000-square-foot facility, which will include classroom space, room for arts and music programs, a gymnasium and more. The new building will replace the organization's current facility, which was built in 1912 as a storage facility and retrofitted for the Boys & Girls Club in 1984. The club will be attached but operated independently from 18 Park, a 550,000-square-foot rental building. Ironstate Development Co. and Kushner Real Estate Group have partnered to develop the project, which is expected to be complete in the fall of 2014.
ROCHESTER, N.Y. — NorthMarq Capital has arranged a $12.3 million loan for the acquisition and renovation of the former Strathallan Hotel, located at 546 E. Ave. in Rochester. The Strathallan contains 155 guest rooms and is located a few minutes from downtown Rochester. When the renovation is complete, the hotel will be rebranded as a Strathallan DoubleTree. Sam Berns of NorthMarq's Rochester office arranged the 10-year loan through a regional credit unit. The loan includes a 25-year amortization schedule.
EDGEWATER, N.J. — HomeGoods has inked a 24,000-square-foot lease to anchor the 100,000-square-foot retail component of Edgewater Harbor on River Road in Edgewater. The mixed-use development sits on 21 acres near the Hudson River. Already, CVS/pharmacy, Moe's Southwest Grill and AT&T have opened in existing buildings on the site. At build-out, Edgewater Harbor will also include 480 loft and townhouse residences. Development is nearly complete on the property's first two residential buildings, which will feature ground-level retail space along Main Street. HomeGoods was the first tenant committed to that portion of the project. Jerry Welkis of Welco Realty represented HomeGoods in the transaction. Jake Frantzman of Levine Management represented National RE/sources.