GREER, S.C. — KBS Legacy Partners Apartment REIT has acquired the 240-unit Crescent Park, a Class A apartment complex located at 401 Elizabeth Sarah Blvd. in Greer, from Crescent Apartments LLC for $20.6 million. The property is 95 percent leased. Amenities include a resort-style pool, clubhouse, billiards room and fitness center.
ST. PETERSBURG, FLA. — ContraVest and Northwestern Mutual have entered into a partnership to develop the 330-unit Courtney at Bay Pines, a luxury apartment community located at 4652 Miramar Dr. in St. Petersburg. Amenities will include a multi-level internet cafe, health club, billiards and sports entertainment room, community lounge, pool with poolside gourmet kitchen, tot lot, dog park and car care detail center. ContraVest will provide general contracting and property management services for the project, which is slated for completion in May 2013.
COCONUT GROVE, FLA. — The 46,900-square-foot Grove Plaza, a vacant, seven-story office building located at 2900 SW 28th Terrace in Coconut Grove, has sold for $3.4 million. Helen Weissman and Suzanne Lopez of Brenner Real Estate Group represented the seller, 1st United Bank, in the transaction. Silvia Lorenzo and Chip Black of Esslinger-Wooten-Maxwell Realtors represented Valor Investments, the buyer.
WASHINGTON, D.C. — Farmers Restaurant Group (FRG) and North Dakota Farmers Union have selected Artisan Partners Construction Services to oversee construction of the 10,000-square-foot Farmers, Fishers & Bakers restaurant in Georgetown at Washington Harbour in Washington, D.C. The $2.5 million project involves the build out of the former restaurant, which was destroyed in a flood in April 2011. Construction is expected to begin this month with completion slated for late fall 2012.
MIAMI — Beech Street Capital has provided a $20.2 million Freddie Mac CME loan to refinance the 276-unit Horizons North Apartments, a garden-style complex located at 665 Ives Dairy Rd. in Miami. Joel Mazur of Beech Street's Chicago office secured the 7-year, fixed-rate loan with 2 years of interest-only payments.
CHICAGO — Burlington Coat Factory has leased 60,096 square feet at a former Filene's Basement in Chicago. The new location, slated to open this fall, is located at the northeast corner of State and Madison streets. Bobby Melsher of Zifkin Real Estate represented the tenant in the transaction. Sharon Kahan and Dan Jacobson of CBRE represented the landlord. The store marks the retailer's 27th location in Illinois and is part of Burlington's broad plan to open more than 20 stores in 2012.
EVANSTON, ILL. — Beech Street Capital has arranged a $4.3 million HUD 232/223F loan to refinance Evanston Nursing & Rehabilitation Center in Evanston. The center is a 57-bed skilled nursing facility. Joshua Rosen of Beech Street Capital originated the loan through the Federal Housing Administration.
ROMEOVILLE, ILL. — Principle Construction Corp. has completed a 184,320-square-foot renovation project within a 444,171-square-foot industrial building in Romeoville. AP Taylor Road LLC owns the facility, which is located at 1075 W. Taylor Rd. Principle was tasked with converting the single-tenant facility into a multi-tenant building. Feher Architects provided architectural services for the project.
MILWAUKEE — Verizon Wireless has signed a lease for 10,681 square feet of office space at 2514 S. 102nd St. in Milwaukee. Ned Purtell and Patti Stevens of RFP Commercial represented the landlord, Westminster Lincoln LLC, in the transaction.
BOSTON — Linear Retail Properties has purchased a 4,497-square-foot retail condominium at 727-731 Boylston St. in Boston for $4.9 million. The condominium unit is located on the ground level of a six-story retail and office building.The space is currently occupied by Uno Chicago Grill, which has operated at the location since 1979. Nick Herz of Colliers International represented Linear Retail in the transaction. Spencer Family LLC was the seller.