HFF Secures $48.1M Loan for Acquisition of 427-Unit Apartment Property in St. Paul

by Christina Cannon

ST. PAUL, MINN. — HFF has secured a $48.1 million acquisition loan for a 427-unit apartment property in St. Paul. The borrower is an affiliate of Abacus Capital Group LLC. HFF originated the floating-rate loan through Freddie Mac’s CME Program. The Burlington, located at 1180 Cushing Circle, is 98 percent leased and offers studio, one- and two-bedroom units. Apartments at The Burlington range from 454 to 1,361 square feet. Amenities at the property include a swimming pool, spa, grilling area, tennis court, fitness center and clubhouse with coffee bar. Mona Carton of HFF, which will service the loan, represented the borrower in the transaction.

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