Minnesota

WEST ST. PAUL, MINN. — Roers Cos. has secured $34.6 million to refinance Savor Apartments, a high-rise community in West St. Paul. Scott Streiff and Scott Loving of JLL Capital Markets arranged the fixed-rate, interest-only loan through Fannie Mae. The loan features a ten-year term and will be serviced by JLL Real Estate Capital. Savor Apartments was built in 2022. The community features 200 one- and two-bedroom units. Amenities include an entertainment suite, a community room, game room, work-from-home suites, coffee bar, rooftop lounge, rooftop deck and a fitness center.

ST. PAUL, MINN. — Sherman Forbes Housing Partners, an affiliate of Vitus Group LLC, has secured a $18.3 million HUD loan to facilitate the renovation of Sherman Forbes Housing in St. Paul, Minnesota. The loan carries a 40-year term and amortization. Sherman Forbes Housing offers 104 units in one- and two-bedroom floor plans. Amenities include on-site laundry, off-street parking, a community playground and a community patio. The project will also utilize four percent Low Income Housing Tax Credits and Tax-Exempt Bonds. The Bonds were underwritten by Colliers Securities LLC. Income restrictions …

MINNEAPOLIS — Northmarq arranged $21.7 million in refinancing for Oaks Minnehaha Longfellow, a 179-unit property in Minneapolis. Mike Padilla of Northmarq’s Minneapolis office led the debt and equity team that arranged the transaction. The transaction was structured on a 5-year term with 3 years interest, followed by a 35-year amortization schedule. Freddie Mac provided the loan. The borrower was not disclosed. Oaks Minnehaha Longfellow was built in 2020. Units include stainless steel appliances, quartz countertops, in-unit washers and dryers, balconies and patios, wood-style flooring, high speed internet access and intercom system.