September 14, 2012
SHOPPING CENTER REIT ACQUIRES SUBURBAN CHICAGO PROPERTY
GLEN ELLYN, ILL. — Phillips Edison — ARC Shopping Center REIT has acquired Baker Hill Center, a 135,355-square-foot shopping center in Glen Ellyn, a western suburb of Chicago. Baker Hill is 98.2 percent occupied and anchored by a 72,397-square-foot Dominick's grocery store. Additional tenants include Gymboree and Nationwide. The acquisition brings the company's total portfolio to 20 properties with an aggregate purchase price of $222.6 million.
 
   
REMEDI ACQUIRES NORTHEAST OHIO PHARMACEUTICAL COMPANY
EASTLAKE, OHIO — Remedi SeniorCare has acquired Cornerstone Pharmacy, further expanding Remedi's presence in the Midwest. Based in Eastlake, Cornerstone provides pharmacy services to long-term care facilities. Baltimore-based Remedi did not disclose how much it paid for Cornerstone, which has about 90 employees. Remedi now serves more than 15,000 long-term care residents from the mid-Atlantic to the Midwest. The 90 Cornerstone employees will become part of Remedi.
 
   
UMH ACQUIRES TWO MANUFACTURED HOME COMMUNITIES IN OHIO
FREEHOLD, N.J. — UMH Properties, based in Freehold, N.J., has acquired two manufactured home communities in Ohio for a combined $5.9 million. The two communities total 280 sites situated on approximately 62 acres. The average occupancy for the communities is 89 percent. UMH now owns 55 manufactured home communities consisting of 10,400 developed homesites.
 
   
SK2 CAMPUS LIVING COMPLETES THREE ACQUISITIONS
NORTHFIELD, ILL.  — SK2 Campus Living LLC, a student housing investment company owned by Charles M. Kiven and Randal J. Selig, recently acquired Lincoln Park Townhomes and 809 & 911 South Franklin in Normal. The three properties are student apartments within blocks of Illinois State University. Lincoln Park Townhomes contain 39 three-level townhomes, each with four bedrooms with private bathrooms, in-unit full laundry machines, flat-screen televisions, private patios and parking. The buildings at 809 and 911 South Franklin contain 36 units with a mix of two-bedroom, two-bath and three-bedroom, three-bath units, in-unit stacked laundry machines, flat-screen televisions and private parking. With these acquisitions, SK2's student portfolio is 343 bedrooms at Illinois State University and Bradley University in Peoria, Ill.
 
   
Midwest

 

 
 
 
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