LEXINGTON, KY. —Kentucky Spirit Health Plan has leased 36,430 square feet of office space in Chase Tower, located at 201 E. Main St. in Lexington. Ernie Arnold of Lexington-based The Gibson Co. represented the tenant in the lease transaction. Paul Ray Smith and Anne Kilcoyne of Lexington-based NAI Issac represented the landlord.
MT. HEALTHY, OHIO — Red Capital Markets, the investment banking arm of Red Capital Group, has deployed a $6 million bond for The Reserve on South Martin, a 60-unit affordable housing development being built in Mt. Healthy, Ohio. Related entity Red Capital Partners has a commitment to purchase the entire $6 million bond issue on a draw-down basis as required by the demands of the construction schedule. The project sponsor is Cincinnati Metropolitan Housing Authority, who is serving as the developer, general partner and management for the community. The construction phase is expected to be complete in the fall of 2012.
AURORA, ILL. — Leopardo recently completed 42 of the 88 rooms at Provena Mercy Medical Center in Aurora as part of a multi-phased modernization and privatization project. The final rooms are slated for completion in late 2012. Each room includes 218 square feet of space and newly replaced windows. The architect for the project is Jensen & Halstead.
NEW YORK CITY — Ariel Property Advisors has closed the the $2.4 million sale of a retail condominium, located on the ground floor of the Douglass Condominium development at 2100 Frederick Douglass Blvd. in Manhattan. Michael Tortorici, Victor Sozio and Shimon Shkury of Ariel Property Advisors represented both parties in the transaction. The sellers were BRP Development Corp. and Goldman Sachs Urban Investment Group, and the buyers were a private investment group.
MARLBOROUGH, MASS. — KS Partners, a real estate investment and development company, has acquired a 113,050-square-foot office property, located at 33 Boston Post Rd. in Marlborough for $8.15 million. Tenants include BayPath, Forefield and Law Offices of Gary H. Kreppel. Richards Barry Joyce & Partners represented the buyer. James McCaffrey of Eastdil represented the seller.
BRAINTREE, MASS. — NAI Hunneman has brokered the sale of a 52,200-square-foot industrial building, located at 116 Lundquist Dr. in Braintree, Mass. for $3.1 million. Catherine Minnerly and Ovar Osvold of NAI Hunneman's Boston office represented the seller, Braintree-based Resources Business Management and Properties Corp., in the transaction. They also procured the buyer, Shaughnessy & Ahern, a rigging and heavy-hauling firm based in Boston.
NEW YORK CITY — Jen Kao, a designer of high-end women's fashion, has signed a 10-year lease for 9,715 square feet of office and showroom space at 10 Hudson Square in the Hudson Square neighborhood. Marc Schoen, Michael Schoen, Brian Neugeboren and Scott Kummings of Savitt Partners' New York City office represented Jen Kao in the transaction. The landlord is Trinity Real Estate.
AUSTIN — The 104-unit French Quarter Apartments, located at 2211 W. North Loop Blvd. in Austin, has been sold. Ellen Muskin of Austin-based Muskin Commercial represented the seller, La Jolla, Calif.-based French Quarter Apartments, LP, in the transaction. The buyer was an investment fund managed by Los Angeles-based Latitude Management Real Estate Investors. Brian Eisendrath of CBRE's Los Angeles office arranged new financing for the acquisition. Martine Properties will continue to manage the multifamily complex.
ABILENE — Marcus & Millichap has brokered the sale of the 84-unit The Camelot Apartments, a multifamily complex located at 5241 Alamo Dr. in Abilene. Mason Green and Boyan Radic of Marcus & Millichap's Fort Worth office represented both the buyer, a Florida-based limited liability company, and the seller, a California-based investor in the transaction. The complex was 98 percent occupied at the time of the sale.
ALLIANCE — HFF has arranged $24.5 million in financing for the 164,333-square-foot Heritage Commons IV, a Class A office building located at 13650 Heritage Pkwy. in Alliance. Tim Jordan and Travis Anderson of HFF's Dallas office arranged the 5-year loan through JPMorgan Chase Bank on behalf of the borrower, Global Income Trust. The building is fully leased.