THE DEAL SHEET

Venture One Real Estate, through its acquisition fund VK Industrial I, has closed on the vacant 110k SF building at 171 Covington Dr in Bloomingdale. CTS Corp previously occupied the property and used it as a call center and cell phone chip production facility. Lee & Associates repped the seller, and the company’s Ken Franzese, John Sharpe, and John Cassidy will market the space.

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A JV of Stage Equity Partners and Middleton Partners, both based in the Chicago area, has acquired two MOBs in Bradenton, Fla., totaling about 70k SF from a healthcare REIT in an off-market deal. The JV paid about $125/SF for the properties, which are over 95% occupied, with 60% leased by one of Bradenton’s largest multi-care practice groups, a subsidiary of HCA Healthcare, and 10% leased by Davita, a national dialysis company.

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Summit Hotel Properties has closed of its acquisition of eight hotels containing an aggregate 1,043 rooms from affiliates of Hyatt Hotels Corp for $87.4M. One of the properties is the 151-room Hyatt Place Lombard in west suburban Lombard; the rest of the portfolio is spread among the Dallas, Phoenix, Denver, and Baltimore markets.

SWC Technology Partners, an IT specialist, has inked a lease expansion for 3,235 SF of office space at 1420 Kensington Rd within Crossings of Oakbrook in Oak Brook. NAI Hiffman’s Dan O’Neill and Garrett Schultz repped the property’s owner, the Davis Companies, which currently owns and manages a portfolio of 5M SF. Dave Stefancic and Lexis Livingwood of DTZ, a UGL Company, repped SWC.

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Fieldstone Building Services, a tuckpointing and masonry restoration company, has leased 10k SF at 411-415 Rockwell Court in Burr Ridge. Cawley Chicago’s Terry Grapenthin and Josh Hearne repped the building’s owner, Layko Properties, while NAI Hiffman’s Steve Connolly repped the tenant.

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Lemko Corp, a maker of wireless mobile network software, has signed a long-term lease for 22.3k SF at One Pierce Place in Itasca. The new lease also allows for expansion into contiguous space within the same building in the future. JLL’s Jim Rose, Gregg Raus, and Mark Kolar repped Lemko.

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Allstate Insurance has renewed its lease of 94.2k SF at 9022 Heritage Pkwy in Woodridge. Tom Hollinden and Mike Cummings of Colliers International repped Allstate, while NAI’s Hiffman’s Dan O’Neill and Jud Henry repped the property’s owner, Oak Realty Group.

FINANCE

Cambridge Realty Capital Cos has provided a $24.2M FHA-insured HUD mortgage loan to refinance Maple Pointe Apartments, a 343-unit apartment for the elderly in Chicago. The fully amortized, 35-year loan was arranged for the owner, an Illinois limited partnership, using the HUD Section 223(a)(7) funding program. The loan was underwritten by Cambridge Realty Capital of Illinois, the Cambridge affiliate that specializes in HUD funding programs.

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Chicago-based Ares Commercial Real Estate Corp has closed a $47M first mortgage loan collateralized by a Class-B office building in downtown Miami’s Brickell neighborhood. Proceeds of the loan were used to refi existing debt on the office property.

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Centerline Capital Group, a subsidiary of Centerline Holding Co, has provided a $5.2M Fannie Mae fixed-rate loan to Ansonia Properties for the acquisition of the Lunt Apartments in the Rogers Park neighborhood of Chicago, which totals 110 units in two non-contiguous buildings across the street from one another. One of the buildings is a 54-unit structure built in 1930, while the other has 56 apartments and was built two years later. Both are 100% occupied.

Russell Brenner has joined Stage Equity Partners as a partner. Previously, Russell was senior principal and member of the management committee at Chicago-based real estate private equity firm Syndicated Equities. At Stage, he will be responsible for new business development, including sourcing new acquisition and development opportunities and establishing capital relationships.