LENEXA, KAN. — NorthMarq Capital has arranged $23.4 million in acquisition financing for Rosehill Pointe, a 498-unit apartment community at 12701 W. 88th Circle in Lenexa, a suburb of Kansas City. David Farrell of NorthMarq Capital arranged the loan through Freddie Mac. The 10-year loan has a 30-year amortization schedule.
OKAWVILLE, ILL. — Holland Construction has completed the first phase of the new Okawville School for West Washington County Community Unit District No. 10. Phase I of the facility, which consists of grades K through 12, included construction of the district office, a gymnasium, the junior and senior high school and a cafeteria. The $29 million, two-phase project will include 166,000 square feet of new construction built on two levels around the existing gymnasium. The second phase includes construction of a wing that will house grades K through 6, a computer lab, as well as art and music rooms. Phase II is slated for completion in the summer of 2013. Okawville is located in southern Illinois.
FARMINGTON HILLS, MICH. — Farmington Hills-based Ramco-Gershenson Properties Trust has agreed to acquire four shopping centers in Wisconsin, Missouri and Colorado for more than $105 million. The purchase includes the $21.6 million Central Plaza, a 166,468-square-foot shopping center in St. Louis. The center is fully leased and anchored by Office Max and JoAnn Fabrics. Also included is the $15.1 million Nagawuakee Shopping Center in Milwaukee, which is anchored by a Kohl's Department Store. The center consists of 113,617 square feet. The Boulder, Colo.-based shopping centers include Harvest Junction North and Harvest Junction South, which are $35.5 million and $33.7 million, respectively. The acquisition is expected to close later this month or early June.
LIBERTYVILLE, ILL. — TCi Tires has signed a lease for 30,845 square feet at Liberty Pointe Business Corporate Center III in Libertyville. TCi, a national tire service dealer, plans to use 1,370 square feet in the building for office space and will devote 29,475 square feet to its distribution operations. McShane Development Co. and MetLife Real Estate Investments co-developed the property, which is located at 1400 Harris Rd. Keith Puritz, Brett Kroner, Ryan Bain and Zachary Graham of CBRE Group represented the owner in the transaction. Grant Glattly of CBRE Group represented the tenant.
NEW YORK CITY — Madison Realty Capital has purchased the note and deed of 385 Union Ave., a 53,000-square-foot apartment property in Williamsburg, Brooklyn for $21.5 million.The property is 97 percent occupied and includes 47 apartments, 24 parking spaces and a gym. The seller of the loan was a bank, which had taken over the original failed lender on the project through an FDIC loss-share deal. The original owner had defaulted on it construction financing in 2009 and the property was placed in receivership after the original lender filed a foreclosure auction. Madison plans to stabilize the property and enhance its value.
BOSTON — 162 Prince LLC has purchased a 4-unit apartment building in Boston's North End neighborhood for $1.5 million. The property is located at 162 Prince St. and was recently renovated. Gina Barroso and Robert Tito Jr. of NAI Hunneman represented the seller, Prince Street Realty Trust. They also secured the buyer.
WALL TOWNSHIP, N.J. — Construction is complete on the 44,000-square-foot Sea Girt Square retail center at 2100 Route 35 in Wall Township. River Drive Construction rebuilt the structure, raised the ceilings heights and re-clad the store fronts. Gottesman Real Estate Partners is leasing the site to retail businesses and current tenants include Wings Fitness, Massage Envy and Village Coffee. The Dietz Partnership served as architect for the project.
NEW YORK CITY — The Global Food International Corp. has signed a lease for 25,000 square feet at 11 Times Square, a 1.1 million-square-foot office and retail tower in Manhattan. The company will occupy a ground-floor and mezzanine-level space, and plans to open a two-level restaurant featuring cuisines from around the world. The restaurant is scheduled to open in 2013. James Emden, Robert Koslow and Dmitry Levkov represented Global Food in the transaction. Robert Futterman and Joshua Stauss of RKF represented the landlord, SJP Properties.
MOORE, OKLA. — Construction is under way for a new 60,000-square-foot Dick's Sporting Goods, located in Fritts Farm Shopping Center in Moore. The store is one of the four Dick's opening in the Oklahoma City area. Direct Development is developing the new store, which is slated to open in the fall. Target and Home Depot anchor Fritts Farm, which features tenants such as Raising Cane's, Lenscrafters, Qdoba Mexican Grill, Jersey Mike's, Orange Leaf Frozen Yogurt, Great Clips and Sprint.
DESOTO — Fort Worth-based Speed Fab-Crete has begun renovating the 24,633-square-foot Chuck Fairbanks Chevrolet dealership, located at 629 N. I-35 E. in DeSoto. Callahan & Freeman are performing construction and design services for the project, which will feature and sales and service facility. Renovations include new exterior paintwork, a new customer lounge, renovated service and reception drive and offices, updates to existing showrooms and display areas, new floor finishes and mechanical and electrical upgrades. Completion is slated for this July. The project is Speed Fab-Crete's 12th car dealership it has renovated in north Texas.