Thursday, June 25, 2020

JLL arranges $28 million financing for suburban Minneapolis apartments


The Cliffs at Minnetonka apartments, Minnetonka, MN

DENVER, CO – JLL Capital Markets announced it has arranged $28 million in financing for The Cliffs at Minnetonka, a 456-unit garden-style apartment community in Minnetonka near Minneapolis, Minnesota.

JLL worked on behalf of the borrower, The Cliffs Limited Partnership LLPto originate the 10-year, fixed-rate Fannie Mae loan. The loan, which will be used to refinance an existing loan, will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.

Brock Yaffe
Completed in 1988, The Cliffs at Minnetonka is located at 12300 Marion Lane in a busy commercial corridor close to the Interstate 394 and 494 interchange in suburban Minneapolis.

 The 27.5-acre site features six four-story buildings with 456 units.

The JLL Capital Markets team representing the borrower was led by Senior Director Brock Yaffe.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.


CONTACT:

Kimberly Steele
JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420

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