GULFPORT, MISS. — Beech Street Capital has secured a $7.75 million refinance loan for the 204-unit Creekwood North Apartments, located at 15235 Oneal Rd. in Gulfport. Chad Hagwood of Beech Street's Birmingham, Ala., office arranged the 10-year loan with a 9.5-year yield maintenance, payable on a 30-year amortization schedule, through Freddie Mac's CME loan program.
AUGUSTA, GA. — The 160-unit Center West Villas, located at 1075 Bertram Rd. in Augusta, has received a $3.91 million refinance loan. William Jones, Jr., of Love Funding's New York office arranged the financing through HUD's 223(a)(7) loan program. The loan allows the property's owner to reduce the interest rate and extend the loan back to its original 35-year term.
MILWAUKEE — A Chicago-based investment fund has purchased a 51,368-square-foot office building in Milwaukee for $14.1 million. The property is leased on a long-term basis to the U.S. General Services Administration and is occupied by the Drug Enforcement Administration. Isaac Metzger of Syndicated Equities represented the seller, a private real estate developer in the transaction. He also represented the buyer.
FAIRVIEW PARK, OHIO — Inland Real Estate Corp. has acquired Westgate Shopping Center, a grocery-anchored shopping center in Fairview Park, for $73.4 million. Recently, the 474,000-square-foot mall was converted from an enclosed to an outdoor mall. Tenants at the center include Lowe's Home Improvement, Kohl's and regional specialty grocer Earth Fare. It is currently 94 percent occupied. The company has also closed a 10-year, 4.9 percent fixed-rate mortgage loan of $40.4 million on the property.
SCHAUMBURG, ILL. — Leopardo has completed a build-out of Thermos' new corporate headquarters in Schaumburg. Thermos, a beverage container manufacturer, is relocating from Rolling Meadows to its new, 25,000-square-foot office at 475 N. Martingale Rd. The building includes conference rooms, executive offices, a research and development lab and a photography studio. Hoffman Estates, Ill.-based Leopardo served as general contractor, with Torchia Associates as the architect. Ken Soltis Associates served as project manager.
INDEPENDENCE, MO. — Plan B, a commercial sweeping and cleaning company, has signed a 9,600-square-foot lease for a new headquarters facility in Independence. The property is located at 301 N. Kiger, and Plan B will transfer 14 employees to the new location. John Hassler of Zimmer Real Estate Services represented the tenant in the transaction. The landlord is Block Real Estate Services.
NEW YORK CITY — NorthEnd Equities, a New York City-based investment company, has acquired a leasehold on a 65,000-square-foot building at 16 W. 36th St., between Fifth and Sixth avenues. NorthEnd made the leasehold deal for $8.2 million. About 30 years remain on the leasehold. Eric Meyer of Colliers International represented the seller, Beach Plaza Associates, in the deal. David Berger of Rosewood Realty Group represented the buyer.
CAMBRIDGE, MASS. — Vecna Technologies has purchased 54 Cambridgepark Dr. in Cambridge for $6.2 million. The 26,603-square-foot building was occupied by Pfizer Inc. for the past 10 years. Vecna, a technology company, owns a location nearby and will use the facility to expand its operations. Occupancy is slated for this spring. Jack Kerrigan and Steve Cook of Avison Young represented the seller, Samuels Property Group, in the transaction.
NEW YORK CITY — Stokholm-based Kunskapsskolan schools has inked a 10-year lease for 15,000 square feet at 38 Delancey St. on the Lower East Side. The building will house the company's first leased school in the U.S., Innovate Manhattan. The charter middle school will include grades 5 through 8. Kunskapsskolan operates 34 schools in Sweden and in the United Kingdom. Peter Braus of Lee & Associates represented the tenant in the transaction. Michael Chen of Bond New York represented the landlord.
NEW YORK CITY — Madison Realty Capital has acquired a 15-note portfolio from a regional savings bank. The loan portfolio, consisting of 15 notes throughout New York City, is secured by 11 properties in Manhattan and 14 in Brooklyn. They comprise 245 residential units and 12 commercial spaces. The loans were originated at various times between 2006 and 2009, and the combined balance of the loans is $28.7 million.