Minneapolis-St Paul
Mixed-Income Asset Coming to Minneapolis
Dougherty Mortgage has closed $42.8 million for Prospect Park Properties and Timberland Partners’ Green on Fourth, a 243-unit community located in the Prospect Park neighborhood.
Dougherty Arranges $14M Refi for MN Senior Community
Rosemount Senior Living at Steeple Center is located within a 35-minute drive south of downtown Minneapolis and comprises 92 independent, assisted living and memory care units.
Demand Pushes Twin Cities’ Occupancy to Top
Although investor appetite is high, deliveries haven’t kept up with demand. Roughly 6,700 units were underway late last year, mostly targeting high-income residents.
2 MN Communities Land $5M Fannie Mae Loan
The 16-year term loan with a 30-year amortization schedule was arranged by Dougherty’s Minneapolis office on behalf of the borrower, Amorce II Limited Partnership.
Marcus & Millichap Partner Facilitates $16M Sale in MN
Mox Gunderson, Dan Linnell and Josh Talberg at Marcus & Millichap’s Minneapolis office, represented a local partnership in the sale of Tamarind Apartments, a 102-unit community in Saint Louis Park.
CBRE Secures $25M MN Community
Granite Woods Minneapolis purchased the 192-unit property, which is located in Plymouth. Brokers Keith Collins, Abe Appert, Ted Abramson and Ike Hoffman negotiated the transaction.
Aeon to Develop New Affordable Housing in Twin Cities
The nonprofit plans to build Greenway Terrace Apartments, a 54-unit community in Ramsey, Minn. The grand opening is expected in late 2018.
Dominium Completes Renovations on MN Affordable Asset
The company invested $9 million on interior, exterior and common-area upgrades to the 176-unit Park Haven.
Dougherty Closes $34M Loan for Affordable MN Development
Named 1500 Nicollet, the planned 183-unit community in Minneapolis will include 5,500 square feet of retail space.
Twin Cities Affordable Housing Portfolio Sells for $77M
Investors Aeon, the NOAH Impact Fund and Enterprise Community Investment purchased the 10 properties. The apartments will continue to welcome low-income renters.