Finance W Minnesota

CBRE arranges $47 million refinance of corporate center in Minnesota

CBRE arranges $47 million refinance of Minnesota corporate center,ph01

CBRE Capital Markets’ Debt and Structured Finance Group arranged a $47 million refinance of the 628,436-square-foot Plymouth Corporate Center at 1405 Xenium Lane in Plymouth, Minnesota.

Joel Torborg in CBRE’s Minneapolis-based Debt and Structured Finance Group secured the CMBS loan with a 10-year term on behalf of Wildamere Capital Management, LLC. The refinance is with the existing lender.

Plymouth Corporate Center is a two-story, 628,436-square-foot building. Built in 1974 and completely renovated in 2009, major tenants include TCF Bank, Comm-Works, LLC, Aetna Health, and LLSC Holdings Corp. The property was 98 percent occupancy at close.