HUNTSVILLE, ALA. — Walker & Dunlop has arranged $24.7 million in refinancing for the 334-unit Bridgewater Apartments, located at 1501 Old Monrovia Rd. in Huntsville. The 10-year loan has a 30-year amortization schedule and was provided by Fannie Mae. Troy Marek of Regions' Real Estate Capital Markets originated the loan and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.
CHICAGO — MetLife Inc. has purchased the 29-story EnV apartment tower in Chicago for a reported $125 million. The seller, Lynd Development Partners, developed the 249-unit tower, which is across the street from the Merchandise Mart in the North Loop. The tower includes one- and two-bedroom apartments and 27,000 square feet of retail and restaurant space. CBRE’s Chicago office represented the seller in the transaction.
BROADVIEW, ILL. — TK Simplex, a hydraulics manufacturer, has sold its 104,000-square-foot facility, located at 2525 Gardner in Broadview. Timoth Cahill, Robert Tamillio and Chase Macleod of UGL Services secured the undisclosed buyer. At the same time, TK Simplex relocated its administrative, sales and lab testing offices to 777 Oakmont Lane in Westomont. Jim Whiteside of Heartland Commercial represented the landlord, UBS REIT, in the lease deal. Cahill, Tamillio and Macleod represented TK Simplex.
FENTON, MO. — Control Devices LLC, a leading valve manufacturer, has signed a lease for a 98,949-square-foot office/warehouse building, located at 155 Larkin Williams Dr. in Fenton. Partick Reilly of Gateway Commercial, Cushman & Wakefield Alliance represented the tenant in the lease negotiations. The Johnson Group represented the owner, TJC Partners LLC.
NEW BRUNSWICK, N.J. — The Vue, a 23-story mix of condominiums and luxury rental residences, has opened in New Brunswick. The first eight stories consist of 57,000 square feet of retail space, including a Barnes & Noble and a Brother Jimmy's BBQ restaurant. The 14-story residential tower includes 150 rental residences and 42 penthouse condominiums. Occupancy for the residential homes is expected in February. Designed by Manhattan-based Meltzer/Mandl Architects PC, the building's exterior features a multi-toned red brick and white facade. The Vue was developed by New Brunswick Development Corp. and Pennrose Properties.
CHARLSETOWN, MASS. — Construction manager Wise Corp. has completed work on a new 20,000-square-foot addition at the MGH Institute of Health Professions in Charlestown. The project included new and expanded physical therapy laboratories, a 104-seat classroom, a cafeteria and floor-to-ceiling windows overlooking Boston Harbor. MGH is an interprofessional graduate school for healthcare specialists.
WYOMISSING, PA. — Lakewood, N.J.-based Paramount Realty Services has purchased Berkshire Square, a 112,119-square-foot shopping center in Wyomissing, for $16.6 million. The property, which was 97 percent occupied at the time of sale, is anchored by Redner's Warehouse Markets and a 23,114-square-foot staples. Mark Tyler and Dean Zang of Marcus & Millichap represented the seller, WP Realty of Bryn Mawr, Pa. They also represented the buyer.
IRVING — Atlanta-based The Brookdale Group has closed on its acquisition of the 1.4 million-square-foot Towers at Williams Square, an office complex comprised of four Class A buildings located at 5125 N. O'Connor Blvd. in Irving. The Brookdale Group purchased the property through Brookdale Investors Six, the firm's sixth real estate investment fund. The property consists of a 26-story office building, two 14-story office buildings and a five-story building, and it sits on a 16-acre property that fronts Lake Carolyn.
THE WOODLANDS — The J. Beard Real Estate Co. has brokered the sale of a 2.11-acre tract, located in the Village of Alden Bridge at the intersection of Ginger Jar and Kuykendahl Road in The Woodlands. Alden Land Development, a private partnership, purchased the land from The Woodlands Land Development. Two 10,000-square-foot office buildings will be constructed on the site by Everson Developments. The buildings are slated for a August 2012 completion and J. Beard is handling the marketing, sales and leasing of the office buildings.
SUGAR LAND — Marcus & Millichap has arranged the $9.49 million sale of the 96,623-square-foot Woodbridge Shopping Center, located at 11543-11581 State Hwy. 6 S. in Sugar Land. James Bell of Marcus & Millichap's Houston office represented the seller, a partnership, and procured the buyer, a REIT, in the transaction. Woodbridge Shopping Center is anchored by Kroger on a long-term ground lease.