LOUISVILLE, KY. — Denver-based Continental Realty Advisors has purchased a 1,200 unit multifamily portfolio, located in the St. Matthews and Oxmoor submarkets of Louisville, from Camden for $97 million. The properties include Brookside Apartment Homes, Meadows Apartment Homes, Prospect Park Apartment Homes and Oxmoor Apartment homes. HFF's Chicago office represented the seller in the transaction.
WINTER HAVEN AND TAMPA, FLA. — Marcus & Millichap has arranged the $8.82 million sale of a four-property multifamily portfolio in Winter Haven and Tampa. The properties include the 81-unit Brandywyne, the 60-unit Landings, the 160-unit Hickory Pointe and the 18-unit Country Place. Michael Regan and Francesco Carriera of Marcus & Millichap's Tampa office represented the seller, a Florida-based private investor, in the transaction and procured the buyer, a Tampa-based private investor.
BALTIMORE CITY, MD. — Timonium, Md.-based Trout Daniel & Associates has arranged a sale-leaseback of the 74,289-square-foot Baltimore Behavioral Health (BBH) campus, located at 1001, 1021 & 1101 West Pratt St. in Baltimore City. Steven Cornblatt and Matthew Melnick of Trout Daniel represented BBH, the seller, in the sale and leaseback. BBH leased 36,000 square feet of space. The buyer was West Pratt Street Holdings, which leased 38,289 square feet to the University of Maryland.
GREEN OAKS, ILL. — Bridge Development Partners has acquired Green Oaks Business Center, a three-building, 461,943-square-foot industrial park at 13820-13950 Business Center Dr. in Green Oaks. The property is nearly 70 percent leased to ITW Paslode, Neptune Lighting Inc., Office Concepts and Advanced Packaging and Fulfillment Inc. Jeff Devine, Steve Disse, Jeffrey Kahan and Fred Regnery of Colliers International represented the seller, International Airport Centers, in the transaction.
OVERLAND PARK, KAN. —NorthMarq has arranged $19.1 million for the first-mortgage refinancing of Cedar Crest Apartments, a 466-unit multifamily community located at 6500 W. 91st St. in Overland Park. Brent Blake of NorthMarq's Kansas City office arranged the loan through NorthMarq's seller-servicer relationship with Freddie Mac. The 10-year loan has a 30-year amortization schedule.
FOSSTON, MINN. — Minneapolis-based Kraus-Anderson Construction Co. has completed the 17-month, $4.6 million renovation of the Essentia Health facility, located at 900 Hilligoss Blvd. SE in in Fosston. The project included the construction of a new main building entry, lab relocation and expansion and a new surgery suite addition. It also includes a new registration and waiting area for the combined clinic and hospital. The project architect is St. Paul-based Pope Associates.
TINLEY PARK, ILL. — The Boulder Group has completed the $3.3 million sale of a 13,905-square-foot, net-leased Walgreens, located at 16675 S. Oak Park Ave. in Tinley Park. Walgreens has eight years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago trust, in the transaction. The buyer was a California-based 1031 exchange investor.
CARLISLE, PA. — Giant Food Stores has agreed to buy 16 Genuardi's Family Markets stores in the greater Philadelphia area from Safeway Inc. for $106 million. The outlets will be converted into Giant Food Stores after the transaction is completed. The sale is expected to close in the first half of 2012. Carlisle-based Giant Food Stores has more than 180 outlets and operates in states including Pennsylvania, Maryland and Virginia.
NEW YORK CITY — Vornado Realty Trust has completed a $330 million refinancing of Eleven Penn Plaza, a 1.1 million-square-foot office building in Manhattan. The company realized net proceeds of about $126 million after repaying the existing loan on the property and closing costs. The loan bears an interest rate of LIBOR (which today is 2.64 percent), plus 2.35 percent. The seven-year loan has a 30-year amortization schedule that begins in the fourth year.
MIDDLETOWN, CONN. — Baker Middletown LLC has purchased Town Place Apartments, a 166-unit complex in the West Lake district of Middletown, for $18.6 million. The community consists of of seven two-, three- and four-story buildings. Steve Witten and Victor Nolletti of the New Haven office of Institutional Property Advisors (IPA) represented the seller, CAPREIT Town Place LP. IPA also represented the buyer.
