BALTIMORE — The University of Maryland Faculty Physicians Inc. (FPI) has renewed and expand its lease, located at 250 W. Pratt St. in Baltimore, by 25,102 square feet. FPI now occupies a total of 61,993 square feet. Tim Jackson, Courtenay Jenkins and Whitney Nye of Cushman & Wakefield's Baltimore office represented the landlord, Behringer Harvard Funds, in the transaction. Matthew Haas and Kevin Haus of Colliers International's Columbia, Md., office represented the tenant.
CINCINNATI — Oak Brook, Ill.-based Inland Real Estate Corp. has purchased Stone Creek Towne Center in Cincinnati for $36 million. The 143,000-square-foot property is anchored by Best Buy, Bed Bath & Beyond and Old Navy. Ben Wineman of Mid-America Real Estate Corp. and Amy Holter of Anchor Associates represented the seller, a joint venture between Bellevue, Ky.-based Brandicorp and Trinity Development Co. of Knoxville, Tenn. Inland Real Estate was self-represented.
MONONA, WIS. — The Yahara Health Clinic, a 32,000-square-foot medical office building in Monona, has sold for $9.6 million. The building is fully leased on a triple-net basis for 10 years. Michael Bennett of Newmark Knight Frank's Chicago office represented both the buyer and the seller in the transaction. The buyer is a non-traded real estate investment trust based on the East Coast.
SWANSEA, ILL. — Holland Construction has completed renovation of the Memorial and St. Elizabeth's Cancer Treatment Center at 4000 Illinois St. in Swansea. The project included restroom and lighting renovations, and previously unused space was converted into work space for the medical physics team. St. Louis-based HDA Inc. served as the architectural firm for the project.
OMAHA — Pace Financial Group has arranged $4.5 million in permanent financing for a build-to-suit CVS, located at 2609 S. 132nd St. in Omaha. A correspondent life insurance company funded the 25-year loan. Jamison Whiston of Pace Financial's Nebraska office arranged the financing. The buyer is a family trust.
HIGHLAND PARK, ILL. — Erik Kunz of NorthMarq's Chicago office has arranged a $6 million loan for the refinancing of Port Clinton Square, located at 600 E. Central Ave. in Highland Park. The mixed-use property includes 130,000 square feet of office and retail space. The 10-year loan has a 10-year amortization schedule. Nationwide Life Insurance Co. provided the loan.
NEW YORK CITY — Beech Street Capital has arranged $25.9 million in Fannie Mae loans for the refinancing of a seven-property portfolio in Brooklyn, Queens and the Bronx. The multifamily portfolio includes 530 units. Josh Rhine of Meridian Capital Group originated the transaction. The 7-year, fixed-rate loans carry 6.5 years of yield maintenance.
NEW YORK CITY — BLDG Acquisition Group has purchased a 3,469-square-foot retail condominium at 127 Seventh Ave. in Chelsea for $6.6 million. The condominium is fully leased to CORE Marketing Group. Jeff Fishman, Brian Segall and Jonathan Butwin of RKF represented the buyer in the transaction. They also represented the seller, Yves Retail. The condominium is located within the Yves, a 14-story residential building.
NEW YORK CITY — Vornado Realty Trust has refinanced 100 W. 33rd St., a 1.1 million-square-foot property in Manhattan for $325 million. The high-rise contains the 243,000-square-foot Manhattan Mall and 847,000 square feet of office space. The loan bears interest at LIBOR, plus 2.5 percent, and matures in March 2015 with two one-year extension options (LIBOR is currently 2.74 percent). The company realized net proceeds of about $87 million after repaying the existing loan on the property and closing costs.
WATERTOWN, N.Y. — Sam Berns of NorthMarq's Rochester, N.Y. office has arranged a $7 million loan for the refinancing of Pleasant Creek Apartments, a 156-unit military housing community in Watertown. Freddie Mac provided the 10-year loan, which carries a 30-year amortization schedule. Pleasant Creek offers off-site housing for the Army's 10th Mountain Division. The division has had deployments in both Afghanistan and Iraq.