CHATTANOOGA, TENN. — Beech Street Capital has closed a $23.5 million HUD 223(f) loan to refinance the 316-unit Carriage Parc Apartments, located in Chattanooga. Chad Thomas Hagwood with Beech Street’s Birmingham, Ala., office arranged the 35-year loan with a 35-year amortization schedule.
CALHOUN AND RINGGOLD, GA. — Capital Advisors has arranged $7.5 million in refinancing for Ringgold Square in Calhoun and Red Bud Shopping Center in Ringgold, two 43,000-square-foot, Food Lion-anchored shopping centers. Matt Good of Capital Advisors arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrowers, Red Bud Properties and Ringgold Partners, through CIBC.
NORTHBROOK, ILL. — Tokyo-based Astellas Pharma US has opened its $150 million corporate campus in Northbrook, a site that serves as the company's North American headquarters. The 446,000-square-foot facility includes a covered parking structured, fitness center and high-tech conference center. GlenStar Properties served as the developer for the project and MB Real Estate was the project manager. The project team also included Goettsch Partners, SmithGroupJJR, WMA Consulting Engineers and Power Construction Co. Astellas is Japan's second-largest drugmaker.
LOMBARD, ILL. — CNL Healthcare Trust has entered an agreement with Sunrise Senior Living for a joint venture that will own seven seniors housing communities valued at $226 million. CNL will contribute approximately $57 million and will own 55 percent of the joint venture, with Sunrise owning the remainder. The seven communities include Sunrise at Fountain Square in Lombard. Sunrise is currently the sole owner of the seven communities and will continue to operate them under a long-term management agreement. The transaction is expected to close within 60 days.
BRAINERD AND BAXTER, MINN. — Eidco Construction will oversee a 4,700-square-foot interior fit-out for retailer rue21 at the Westgate Mall in Brainerd and Baxter. The project includes constructing a new storefront, interior partitions, electrical and light installation, the addition of a new washroom as well as completing graphics and signage. The fit-out is expected to be complete later this month.
MUSKEGON, MICH. — Essex Property Management has purchased a one-story, 199,785-square-foot manufacturing building at 2121 Latimer Dr. in Muskegon. Essex will use the facility as an addition to the manufacturing footprint of the Port City Group of Cos. in Western Michigan. The property includes 3,500 square feet of office space, five truck docks and parking for 115 vehicles. Rob Gemerchak of Binswanger represented the seller, Bekaert Corp. in the transaction.
NEW YORK CITY — Stath Realty Corp. has purchased a development site at 1412-1425 Fulton St. in Brooklyn for $3.3 million. The site contains an existing medical health facility, located directly across from Restoration Plaza. The 10,247-square-foot lot can be built to a maximum of 57,391 square feet. The lease term for the lone tenant in the property will expire in October 2013. The new owner plans to hold the asset until the lease expiration and then reposition it for retail or mixed-use development. Brian Leary, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX represented the seller, Shiloh Realty Corp. They also procured the buyer.
JERSEY CITY, N.J. — The Bank of Tokyo-Mitsubishi has signed a 17-year, 100,274-square-foot lease expansion at Harborside Financial Center in Jersey City, bringing the bank's total leased space to 261,957 square feet. The lease is pertains to space at the 725,600-square-foot Harborside Plaza 3. Fred Smith and Curtis Foster of Cushman & Wakefield represented the tenant in the transaction. The landlord is Mack-Cali Realty Corp.
WHIPPANY, N.J. — Z&Z Supply has signed a lease renewal for 13,200 square feet at 1 Apollo Dr. in Whippany. The company will continue to use the site for the wholesale distribution of HVAC equipment. Howard Weinberg of Cassidy Turley represented the landlord, Keystone NJP III LLC in the transaction. Steven Leitner of NAI Hanson represented the tenant.
TULSA, OKLA. — Five dental clinics fully leased to My Dentist, located in Texas, Oklahoma and Arkansas, have sold for $9.48 million. Toby Scrivner, Jeff Matulis and Karen Vinsko of Stan Johnson Co. represented the seller, an Oklahoma City-based developer, in the transaction and procured the buyer, a New York-based REIT. The properties are debt-free and have newly established 15-year, triple net leases with attractive annual rent increases.