August 26, 2010 Tony Carlson, Dick Riley and Dave Rasmussen in the Minneapolis office of Grandbridge Real Estate Capital recently originated and closed two first mortgage multi-family loans totaling more than $4.7 million for first-time Grandbridge clients. Secured by 108 market rate apartment units, both refinance transactions were funded through a Fannie Mae Small Loan Program lender. Read more...
August 24, 2010 CB Richard Ellis’ Chicago Capital Markets Debt & Equity Finance group secured a long-term fixed-rate first mortgage totaling $26.8 million to finance the acquisition of Valley Creek Apartments, located at 1707 Century Circle, Woodbury, Minn. Read more...
August 24, 2010 New retail development is nearly at a standstill throughout most of Minnesota. St. Paul-based Paster Enterprises, though, is bucking this trend. Read more...
August 23, 2010 Minneapolis-based JMW Development, LLC this summer announced that CorTrust Bank has signed to join the 40-acre Commerce Hill development in Woodbury, Minn. Located on Woodbury Drive between Commerce Drive and Tamarack Road, Commerce Hill will be anchored by a 177,000-square-foot SuperTarget. Read more...
August 22, 2010 Mark Kolsrud, senior vice president and principal with the Minneapolis office of Cassidy Turley, and Howard Paster, president of St. Paul-based shopping center development and management firm Paster Enterprises, aren’t naïve. They know that the commercial real estate industry in the Twin Cities and entire state of Minnesota has seen better times. But both commercial industry veterans say that the worst of the real estate slump has already hit Minneapolis. It is time now, they say, to look toward the future. Read more...
August 20, 2010 Marcus & Millichap Real Estate Investment Services recently facilitated the sale of the former Timberlodge Steakhouse in Maple Grove, Minn. The 8,686-square-foot asset commanded a sales price of $2.8 million, corresponding to more than $328 a square foot. Read more...
August 20, 2010 Minneapolis-based Kraus-Anderson Construction Company has been selected by the Wadena-Deer Creek School District in Wadena, Minn., to rebuild the high school that was destroyed by a tornado on June 17, 2010. Funding for the reconstruction will be approximately $30 million. Read more...
August 04, 2010 Marcus & Millichap Real Estate Investment Services recently arranged the sale of the Garden Lane Apartments, a 24-unit multi-family community in Shakopee, Minn. The sales price of $1.4 million represents $60,521 per unit. Read more...
August 04, 2010 Bemidji, Minn.-based Kraus-Anderson Construction Company will soon begin construction on a 25,000-square-foot photovoltaic solar panel plant for Mountain Iron Economic Development Authority in Mountain Iron, Minn. The $3.6 million project also includes solar panel equipment. Read more...
August 01, 2010 The multi-family sector has actually been the top performer in the commercial real estate market since the industry’s slump began. Read more...
