REBusinessOnline

Brickstone Partners, KMK Capital to Develop 200-Unit Apartment Community in Minneapolis

Known as LakeHaus, the development will be located on Lake Calhoun.

MINNEAPOLIS — Brickstone Partners Inc. and KMK Capital, in partnership with Deutsche Finance America, are developing LakeHaus, a 200-unit apartment community on Lake Calhoun in Minneapolis. The eight-story project will be situated on a 1.7-acre site at 3100 W. Lake St. The unit mix includes 36 studios, 85 one-bedroom units, 74 two-bedroom units and five penthouses. Amenities will include a rooftop swimming pool, clubroom, fitness center, lobby with coffee bistro, courtyards and grilling stations. Completion is slated for 2020. Kristian Lichtenfels, Josh Simon, Stella Pappas and Jules Sherwood of HFF arranged a construction loan through a national bank. The team also arranged mezzanine financing through EverWest Real Estate Partners. The development is valued at more than $119 million, according to HFF.

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