DENVER — Castle Lanterra has acquired the 369-unit Alexan Sloan’s Lake apartment community in Denver for $102.8 million. The community is located at 1550 Raleigh St. Alexan Sloan’s Lake features 9,000 square feet of first-floor retail. The property is part of a 19-acre mixed-use redevelopment of the former Saint Anthony Hospital campus. The development will eventually contain up to 150,000 square feet of retail and office space. Jeff Hawks, Terrance Hunt, Doug Andrews, Shane Ozment and Chris Cowan of ARA Newmark represented the seller, a joint venture between Trammell Crow Residential and an institutional investor.
DAVENPORT, IOWA — Dougherty Mortgage LLC has arranged a $3.8 million Fannie Mae loan for the acquisition of Castlewood Apartments in Davenport, part of the Quad Cities and located near the Illinois border. The 96-unit multifamily property offers two- and three-bedroom townhomes. The 16-year loan features a 30-year amortization schedule. In conjunction with the loan, tax credit equity will also be used to fund the moderate rehabilitation of the project. Dougherty’s Minneapolis office arranged the financing on behalf of the borrower, Davenport MAHC LLLP.
GARLAND, TEXAS — Dougherty Mortgage has closed a $5.4 million Fannie Mae loan for the acquisition of Oaks Branch Apartment Homes in Garland, a northeastern suburb of Dallas. The 12-year loan was arranged through a partnership with Old Capital Lending and Dougherty Mortgage’s Vienna, Va., office on behalf of the borrower, Castleglen Homes LLC. The financing included two years of interest-only payments and a 30-year amortization schedule. The 76-unit property features two- and three-bedroom market-rate units with open kitchens, vaulted ceilings, ceiling fans and washer/dryer connections.
COLUMBIA, S.C. — ARA Newmark has arranged the $56 million sale of Aspyre, a 760-bed student housing community located near the University of South Carolina campus in Columbia. Ryan Lang of ARA Newmark represented the seller, Holder Properties, in the disposition of the property to Castlerock Enterprises. Community amenities at Aspyre include a resort-style pool with a beach area and grills; a clubroom with a bar area, a Nintendo Wii and a PlayStation; and a Zen courtyard with a putting green and 24-hour fitness center. Aspyre was 97 percent occupied at the time of sale.
NEW CASTLE COUNTY, DEL. — U.S. Realty Capital has originated $31 million in permanent financing for a multifamily complex located in northern New Castle County. The financing will replace an existing construction loan on the newly built 218-unit property. The property had significant pre-leasing activity and overall occupancy was close to 100 percent at completion. The property features a fitness center, pool and 9,000 square feet of retail space. Bruce Robertson Jr. and Jane Bender of U.S. Realty Capital arranged the financing for the undisclosed borrower.
FORT WAYNE, IND. — Bradley Co. has arranged four leases for office and retail space in Fort Wayne. Kelly Castle of Bradley Co. represented the tenant in each transaction. Levitate LLC leased 2,709 square feet of office space at 803 S. Calhoun St.; Deck Factory LLC inked a deal for retail space at 1509 Goshen Road; Mad Anthony Investments LLC leased 2,393 square feet of retail space at 2701-2703 Broadway; and RITS Ltd. Brokers signed a lease for retail space at 6127 Stellhorn Road within Maplewood Plaza. The names of the landlords were not released.
ANTRIM TOWNSHIP, PA. — Eldorado Stone has signed a lease for a 432,000-square-foot build-to-suit industrial building at Antrim Commons Business Park in Antrim Township. The company, which manufactures architectural stone veneer, plans to consolidate two operations currently located in Greencastle, Pa., and Hagerstown, Md., into the facility. The company plans to invest nearly $7 million into the new location. The joint venture ownership between Atapco Properties and Chesapeake Real Estate Group plans to construct the new facility on a 25.4-acre parcel of land on Antrim Commons Drive within the business park. The property is slated for delivery in summer 2017. Antrim Commons Business Park is configured to support up to 6 million square feet of industrial and commercial space. Eldorado Stone received a $250,000 Pennsylvania First Program grant and $114,000 in Job Creation Tax Credits that will be distributed after the new jobs are created.
AUBURN AND FORT WAYNE, IND. — Bradley Company Commercial Real Estate has completed five transactions in Auburn and Fort Wayne. In the first transaction, Carl Diehm of Bradley represented the landlord, Cenway Center, and the tenant, Agri-Labs Inc., in the lease of 2,160 square feet of retail space at 915 Cardinal Court within Cenway Business Center in Auburn. In the second deal, Tyler Binkley of Bradley represented the Feuser Contracting Inc. in the sale of an 11,992-square-foot office building at 7702 Bluffton Road in Fort Wayne. The name of the buyer and acquisition price were not released. In the third transaction, Stanley Phillips and Kelly Castle of Bradley represented the landlord, RITS Ltd. Brokers in the lease negotiation of retail space at 6127 Stellhorn Road within Maplewood Plaza in Fort Wayne. The name of the tenant and lease size were not released. In the fourth deal, Phillips represented the landlord, Fort Wayne Associates, and Binkley represented the tenant, Phil’s Hobby Shop, in the lease of retail space located within Parkwest Center at 3938 W. Jefferson Road in Fort Wayne. In the last deal, Paul Refakis of Bradley represented the landlord, Lynn Leasing, and Kienan O’Rourke of Bradley represented the tenant, Blasius …
CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $6 million sale of 4989 Factory Shops Blvd., a 10,113-square-foot shopping center located in Castle Rock, roughly 30 miles outside of Denver. Tom Ethington and Rob Edwards of Pinnacle represented the undisclosed seller in the transaction. Tenants at the center include MOD Pizza, Jersey Mike’s Subs and AT&T.
ENGLEWOOD, COLO. — Angelo, Gordon & Co. has acquired CH2M Global Headquarters, a 370,485-square-foot office campus in Englewood, for $122 million. The three-building campus is located at 9189, 9191, and 9193 S. Jamaica St. within Meridian International Business Center. The campus was built in 2002. It is fully leased to CH2M Hill, an engineering and construction firm. Angelo, Gordon & Co. represented itself in the transaction, while NGKF’s Kevin Shannon, Ken White, and Laura Stumm, Dave Tilton, Jamie Gard and Jeff Castleton represented the seller, Columbia Property Trust. The firm’s David Milestone and Brett Green arranged debt on behalf of the buyer.