REBusinessOnline.com

March 06, 2012

NORTHMARQ ARRANGES $22.9M IN COMBINED MORTGAGES FOR APARTMENT PROPERTIES
KANSAS CITY, KAN. — David Farrell of NorthMarq Capital's Kansas City office has arranged $22.9 million in first-mortgage financing for three multifamily properties in Kansas, Ohio and Tennessee. The properties contain a total of 491 units. Pinnacle Woods Apartments, located at 5000 Clinton Parkway in Lawrence, Kan., contains 208 units and received financing totaling $10.4 million. Village West Apartments, located at 884 Thurber Dr. West in Columbus, Ohio, contains 115 units and received $6.6 million in refinancing proceeds. Walker Springs Apartments, located at 721 Walker Springs in Knoxville, Tenn., contains 168 units and was refinanced at $5.8 million. Each of the loans is for 10 years with a 30-year amortization schedule. Freddie Mac provided the loans.


BLOCK SELLS FORMER KANSAS CITY SCHOOL BUILDINGS
KANSAS CITY, MO. — Kansas City-based Block Real Estate Services is selling former school buildings on behalf of Kansas City Public Schools. Block has received offers for the surplus space and completed the marketing process of several of these properties including Askew, Bingham, Blenheim, Bryant and Swinney schools. McCoy Elementary remains available as there were no qualified offers received in the first round. Block is working through a second round of properties offered by Kansas City Public Schools. These properties include the former Dunbar Elementary, Moore Elementary, Northeast Middle School, Thatcher Elementary, Westport High School and Westport Middle School.


FAMILY DOLLAR SIGNS NEW LEASE IN WISCONSIN
FOND DU LAC, WIS. — Family Dollar, a discount retailer, has leased 8,400 square feet at 528 W. Johnson St. in Fond du Lac. Brian Gingrass and Jon Thoresen of the Milwaukee office of Commercial Property Associates represented the landlord, Kin Properties, in the transaction.

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