Midwest
Post Brothers Secures $52M Loan for Philly Multi-Family
Residential developer Post Brothers has obtained a $52 million loan for Post Rittenhouse Hill L.P. to complete the redevelopment of the Rittenhouse Hill multi-family property in the Germantown section of the city. The loan was funded by an undisclosed European bank.
Verus Partners Breaks Ground on 138 KSF Indiana Industrial Facility
On the heels of industrial development nationwide, Verus Partners is breaking ground on a 137,500-square-foot new manufacturing-and-distribution facility for Helmer Inc. that will be located across 10 acres in Noblesville, Ind.
682 KSF Pennsylvania Office Park Gets $45M Refi
Cedar Crest Professional Park, a 682,000-square-foot professional office campus just outside of Allentown in Pennsylvania’s Lehigh Valley, has been refinanced to the tune of $45 million by MRA Realty Advisors on behalf of Cedar Crest Professional Park VII.
JLL Completes Construction of $536M Medical Facility in Indiana
Jones Lang LaSalle Inc.’s job as program manager for the development of Parkview Health’s Parkview Regional Medical Center is done, now that construction of the 975,000-square-foot hospital in Fort Wayne, Ind., has reached completion. The big-ticket project came with an equally big price tag of $536 million.
$127M Loan on Cleveland Office Latest Refi Success Story
The $127 million refinance of Harbor Group International’s 200 Public Square office tower in downtown Cleveland is both one of the larger recent CRE refis and an example of the current refi trend.
Cole Acquires 270 KSF Retail Center in Michigan for $47M
Cole Real Estate Investments has made a $47 million pickup in Allen Park, Mich., located just south of Detroit. Fairlane Green, the 270,000-square-foot retail power center in the transaction, is 97 percent occupied.
Colliers Lands 1 MSF Office-Leasing Contract in Cincinnati
Colliers International has picked up a sizable management contract, as the firm was named the leasing broker for the 1 million-square-foot Queen City Square in Cincinnati’s Downtown.
Ralcorp Signs 175 KSF Lease at Bank of America Plaza in St. Louis
Private-label foods producer Ralcorp has signed a 175,000-square-foot lease at St. Louis’ Bank of America plaza, an agreement that includes a 57,000-square-foot expansion.
Colliers Signs Chicago’s Largest Industrial Lease of 2012
Clarion Partners, working through Colliers International’s industrial advisory group, has signed a 492,866-square-foot lease with tenant Wilton Industries, marking the largest industrial lease in the Chicagoland area this year.
Inland Real Estate Picks Up Two Ohio Shopping Centers for $109M
In two separate transactions, Inland Real Estate Corp. has spent an aggregate $109.4 million on Ohio shopping centers. The first deal, closed on the last day of February, saw the company pick up the Cincinnati-area Stone Creek Towne Center for $36 million, and earlier this week, Inland spent $73.4 million on Westgate Shopping Center in Fairview Park, near Cleveland.