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Laramar Group, which has offices in Chicago and Denver, acquired the 379 units at the 432-unit condominium for $49.65 million from Aspen Square Management of West Springfield, MA.
The loans were originated by the firm's recently launched CrossHarbor Senior Debt Income Fund, which is based in Chicago. The fund partnered with National Life Group to provide Scannell Properties of Indianapolis with the construction financings.
The brokerage firm ranked the top 10 warehouse markets with the Inland Empire, CA leading the way with 23.4 million square feet in the ground and a 3.2% vacancy rate and 9.4% annual rent growth.