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Gantry Arranges $39.5M Permanent Loan for Apartment Complex in Woodbury, Minnesota

Kristin Harlow — Tue, 09 Jun 2026 13:06:31 +0000

WOODBURY, MINN. — Gantry has arranged a $39.5 million permanent loan as construction takeout financing for the Edison at Woodbury, an apartment complex located in the Twin Cities suburb of Woodbury. The property features 207 units spread across a podium-style, mid-rise apartment building, satellite townhomes and carriage houses with attached parking garages. Floor plans range from one- to three-bedroom units, and all units contain in-unit washer and dryers, walk-in closets, patios and stainless steel appliances. Amenities include a fitness center, pool and clubhouse facilities. Joe Monteleone and Bonnie Monteleone of Gantry arranged the 10-year, fixed-rate Freddie Mac loan, which features five years of interest-only payments that transitions to 35-year amortization.

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Cinnaire Closes $307M LIHTC Equity Fund for 2,259 Affordable Housing Units Across 10 States

Kristin Harlow — Mon, 08 Jun 2026 13:51:11 +0000

LANSING, MICH. — Lansing-based Cinnaire has closed a $307 million Low-Income Housing Tax Credit (LIHTC) equity fund, Fund for Housing LP 45, which will finance the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. Fund 45 will support multifamily development in Delaware, Illinois, Indiana, Maryland, Maine, Michigan, Minnesota, Pennsylvania, Virginia and Wisconsin. Specific projects include 3rd Avenue Flats in Dilworth, Minn., and The Argus Apartments in Verona, Wis. A new-construction development, 3rd Avenue Flats will bring 44 affordable housing units, five of which will be reserved for people with disabilities and four of which will be designated for households experiencing high-priority homelessness. The developer, Commonwealth Holdings IV, will partner with Lakes & Prairies Community Action Partnership to provide access to the state’s community coordinated entry system CARES, which provides access to all homeless housing programs as well as emergency resources to prevent households from falling into homelessness. The Argus Apartments is also a new development that will provide 60 affordable housing units, including nine reserved for individuals with developmental, physical or mental disabilities. Social services provider Lutheran Social Services will provide onsite services to the nine Permanent Supportive Housing units. The project developers are…

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Upland Arranges Sales of Chipotle, Starbucks Properties in Andover, Minnesota

Kristin Harlow — Mon, 08 Jun 2026 13:43:30 +0000

ANDOVER, MINN. — Upland Real Estate Group has arranged the sales of newly constructed Chipotle and Starbucks single-tenant net-lease properties within Clocktower Commons in Andover, a northwest suburb of the Twin Cities. Deb Vannelli, Keith Sturm and Amanda Leathers of Upland represented the buyers, which completed 1031 exchanges. Both tenants operate under corporate, long-term leases with drive-thru service. The properties are situated on a 2-acre parcel at the intersection of Hanson and Crosstown boulevards.

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JLL Brokers $50.5M Sale of Industrial Portfolio in Metro Minneapolis, Milwaukee

Kristin Harlow — Thu, 04 Jun 2026 13:11:10 +0000

MINNEAPOLIS AND MILWAUKEE — JLL Capital Markets has brokered the $50.5 million sale and secured acquisition financing for the Midwest Distribution Portfolio, a collection of four industrial properties totaling 608,316 square feet across the Minneapolis and Milwaukee metro areas. The fully occupied portfolio includes a 265,516-square-foot distribution center in Lino Lakes, Minn., two buildings totaling 141,750 square feet in Pewaukee, Wis., and a 201,050-square-foot complex in Milwaukee adjacent to the airport. The properties are home to nine tenants across sectors such as merchant wholesalers, apparel, motor freight distribution and air freight services. The facilities feature clear heights ranging from 22 to 30 feet with more than 70 loading positions. Colin Ryan, David Berglund and Ed Halaburt of JLL, along with Tom Shepherd of Colliers represented the seller, Biynah Industrial Partners. Matthew Schoenfeldt and Lucas Borges of JLL arranged the financing.

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Kraus-Anderson Builds $18.8M Fire Station in Otsego, Minnesota

Kristin Harlow — Wed, 03 Jun 2026 13:33:01 +0000

OTSEGO, MINN. — Kraus-Anderson has completed a new $18.8 million fire station for the City of Otsego in metro Twin Cities. Designed by Wold Architects and Engineers, the 35,000-square-foot station features a central location for rapid response and community-centered spaces for educational events and engagement activities. The project includes large apparatus bays, gear storage and well-planned workflows for quick mobilization. Living quarters accommodate 24-hour staff. Dedicated training areas include new classrooms and spaces that allow firefighters to refine skills and host community safety programs such as CPR training and workshops. The project incorporates eco-friendly materials, energy-efficient lighting and water-saving fixtures. Construction began in June 2025.

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Harbor Group, Garrett Cos., Telis Group Receive $351M Refinancing for Multifamily Portfolio

Hayden Spiess — Thu, 28 May 2026 12:00:00 +0000

NORFOLK, VA. — Affiliates of Harbor Group International, in partnership with The Garrett Cos. and Telis Group, have received a $351 million loan for the refinancing of an eight-property multifamily portfolio across four states. ACRE, a vertically integrated real estate fund manager, provided the financing. Totaling 1,573 units, the portfolio is located in Arizona, Colorado, Indiana and Minnesota, with properties in the Denver, Colorado Springs, Phoenix, Indianapolis and Minneapolis metropolitan areas. The communities included in the portfolio were developed between 2024 and 2026 and are part of a larger, 11-property portfolio that was refinanced by the borrowers in January 2025. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Rimer, Michael Ianno, Nicholas Gillhooley, Craig West, Kevin Walsh and Holden Barry of Walker & Dunlop Capital Markets secured the loan on behalf of the borrowers. “This refinancing represents another important milestone for the portfolio and highlights the collaborative approach among all parties involved,” says Eric Garrett, CEO of The Garrett Cos. “We continue to see strong operating performance across the assets and remain confident in the long-term fundamentals supporting these markets.” Headquartered in Norfolk, Va., Harbor Group International is a privately owned global real estate investment and management…

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Northmarq Provides $13.5M Refinancing for Two Multifamily Properties in Metro Twin Cities

Kristin Harlow — Thu, 21 May 2026 13:41:24 +0000

MAPLEWOOD, MINN. — Northmarq has provided a $13.5 million Fannie Mae DUS loan for the refinancing of Sherwood Glen and Keller Flats in Maplewood. The two garden-style multifamily properties total 165 units. Built in 1964 and 1966, Sherwood Glen and Keller Flats operate as naturally occurring affordable housing. All units are reserved for residents earning 60 percent or less of the area median income. Since acquiring the assets in 2021, Kentaurus Capital has invested in roof replacements, exterior upgrades, parking lot improvements and common area enhancements. Lucas Goring and Logan McCarthy of Northmarq originated the five-year loan on behalf of Kentaurus.

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Four Retailers Open at 1.1 MSF Rosedale Center in Minnesota

Kristin Harlow — Fri, 15 May 2026 13:21:33 +0000

ROSEVILLE, MINN. — In April, Swavorski opened a 1,051-square-foot store and PacSun opened its newly remodeled 3,995-square-foot store at Rosedale Center, a 1.1 million-square-foot shopping mall in Roseville within metro Twin Cities. Later this month, Hammer Made will open its 576-square-foot store. Lastly, Abercrombie & Fitch will debut a 5,500-square-foot space this summer. Tenants that opened at the property in 2025 include Kendra Scott, J.Crew Factory, Johnston & Murphy, Lolli & Pops, Paris Baguette and BRKThrough. Lane Walsh and Holly Rome of JLL lead the leasing efforts at Rosedale Center.

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Marcus & Millichap Brokers $5.1M Sale of Falcon View Apartments Near St. Paul

Kristin Harlow — Mon, 11 May 2026 13:01:00 +0000

FALCON HEIGHTS, MINN. — Marcus & Millichap has brokered the $5.1 million sale of Falcon View Apartments, a 36-unit multifamily property in Falcon Heights near the University of Minnesota’s St. Paul campus. Built in 1968, the asset consists of two 18-unit buildings with a mix of floor plans totaling 36,768 rentable square feet. Michael Jacobs, Abe Roberts and Tommy Hartwell of Marcus & Millichap represented the seller, a local ownership group. The property sold to a 1031 exchange buyer.

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Pottery Barn to Open 12,500 SF Store at Rosedale Center in Metro Twin Cities

Kristin Harlow — Thu, 30 Apr 2026 13:43:45 +0000

ROSEVILLE, MINN. — Pottery Barn has signed a 12,500-square-foot lease to open at Rosedale Center, a 1.1 million-square-foot shopping mall in Roseville. The home furnishings retailer will occupy an exterior space and is slated to open in the third quarter of 2027. Holly Rome of JLL leads the leasing efforts for Rosedale Center and secured the lease with Pottery Barn, which is a member of the Williams-Sonoma Inc. portfolio of brands.

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Cushman & Wakefield Brokers $27.7M Sale of Shopping Center in Suburban Minneapolis

Kristin Harlow — Tue, 28 Apr 2026 12:59:01 +0000

EDEN PRAIRIE, MINN. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center in Eden Prairie anchored by grocer Lunds & Byerlys. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties. Phillips Edison & Co. Inc. was the buyer. Prairieview Center was built in 1986 and renovated in 2018. Additional tenants include Chase Bank, Culver’s and Starbucks.

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In 2026, Twin Cities Office Market Is Sorting

Kristin Harlow — Thu, 23 Apr 2026 12:00:00 +0000

By Anders Pesavento, Cushman & Wakefield If you have ever been to a pro sports game or a concert and felt that collective buzz, you know exactly what I mean — it is electric. The kind of energy that makes you look around and think, right, this is why we do this. I felt it first-hand when the Cross Country Skiing World Cup came to Minneapolis in 2024, and more than 30,000 people packed into one place to cheer on the athletes. That day was a reminder you cannot replicate with a livestream or a group chat: humans feed off other humans. The office market is tapping into that same instinct, just in a quieter way. That is why the conversation has moved from whether office matters to which offices matter. It is not a blanket comeback. It is a sorting. We are not rewinding to 2019. Companies are using spaces differently and choosing buildings that help them recruit and retain talent. Hybrid schedules are real, but so is the need for culture, onboarding and collaboration that works best face-to-face. That shift makes “vacancy” a blunt instrument. Real vacancy is the space that is truly available in buildings that can…

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Kraus-Anderson Completes 10,000 SF Remodel at Lakeview Clinic in Waconia, Minnesota

Kristin Harlow — Wed, 22 Apr 2026 13:46:48 +0000

WACONIA, MINN. — Kraus-Anderson has completed an interior and exterior remodel of Lakeview Clinic in Waconia, about 35 miles southwest of Minneapolis. Designed by DSGW Architecture, the project includes a 10,000-square-foot renovation. Key updates included relocating the main entrance; phased enhancements to the waiting areas and registration desk; and the expansion and renovation of the OB/GYN and podiatry clinics as well as the optical shop. The project also added new patient parking, including handicap stalls directly adjacent to the new entrance. Lakeview Clinic is an independent, physician-owned multispecialty group that has served the area for 70 years. Lakeview also operates clinics in Chaska, Norwood and Watertown.

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Peavey Road Partners Buys 42,886 SF Industrial Property in Chaska, Minnesota

Kristin Harlow — Fri, 17 Apr 2026 12:54:47 +0000

CHASKA, MINN. — Peavey Road Partners LLC has purchased a 42,886-square-foot industrial property at 4024 Peavey Road in Chaska for $3.1 million. The buyer plans to position the site for one of Minnesota’s first “mezzobusiness” cannabis cultivation, manufacturing and retail operations. The tenant will be Blom Inc., a Minnesota-based cannabis company pursuing a mezzobusiness license, the state’s most vertically integrated license type that allows for cultivation, manufacturing, processing, packaging and retail operations within a single platform. United Prairie Bank provided acquisition financing for the transaction. In addition, Peavey Road Partners plans to invest approximately $4 million for building improvements to convert the former industrial facility into a state-compliant cultivation and retail operation. Kai Thomsen, principal at Lee & Associates Twin Cities, and Wade Shatzer of Equimax created Peavey Road Partners to address the unique real estate and capital challenges specific to Minnesota’s cannabis industry. Hudson Brothen of Cushman & Wakefield represneted the seller of the property, Highland Development.

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Different Opportunities: Minneapolis, St. Paul and the Suburbs

Kristin Harlow — Thu, 16 Apr 2026 12:00:00 +0000

By Jesse Tollison, Transwestern When analyzing the Minneapolis-St. Paul (MSP) metro area, urbanicity plays a deep role in understanding the opportunities for making a significant impact and profit in the commercial real estate markets. This is not a story unique to Minnesota’s largest metropolitan area, where roughly half of the state’s inhabitants live, but MSP serves as an illuminating case study as to how widely opportunity can vary between urban and suburban markets. Indeed, many areas across the country exhibit stark differences between their urban and suburban commercial real estate markets, but those differences cannot be uniformly applied to each metro. The qualitative and quantitative analysis of local minutiae lends tremendous insight when evaluating opportunities. Developers, investors, tenants, brokers and every other player in the commercial real estate world are paying close attention to the diverging urban and suburban trends as they assess the market for opportunities. In such a fragmented market, decision-makers are using more data than ever to inform their strategies. High-level views aren’t enough to benchmark a property’s performance, and it’s important to understand the localized trends when evaluating an opportunity. Industrial history As the historical industrial hub of Minnesota, the Twin Cities’ urban core has many…

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Colliers Arranges $9M Sale of Multifamily Community in Northeast Minneapolis

Kristin Harlow — Wed, 15 Apr 2026 12:44:44 +0000

MINNEAPOLIS — Colliers has arranged the $9 million sale of Anderson Plaza Apartments, a 100-unit multifamily community in Minneapolis. The transaction marks the first time the asset has changed ownership. The property was developed in 1963 on a former quarry site and family-owned since its inception. Mox Gunderson, Dan Linnell, Adam Haydon, Devon Dvorak and Drew Jackson of Colliers represented the seller. The buyer, Quarry Apartments LLC, plans to make targeted renovations and operational enhancements. The property was 86 percent occupied at the time of sale.

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Marcus & Millichap Brokers $6.3M Sale of Daycare Facility in Otsego, Minnesota

Kristin Harlow — Wed, 15 Apr 2026 12:44:10 +0000

OTSEGO, MINN. — Marcus & Millichap has brokered the $6.3 million sale of a childcare facility net leased to Everbrook Academy in Otsego, about 33 miles northwest of downtown Minneapolis. Built in 2025, the 11,758-square-foot property features a 15-year lease backed by Learning Care Group. Spencer Berkley, Mark Ruble, Chris Lind, Zack House and Jon Ruzicka of Marcus & Millichap represented the seller, a Minnesota-based limited liability company, and procured the buyer, a Delaware-based limited liability company.

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Greystone Provides $46.7M Refinancing for Minnesota Seniors Housing Portfolio

Kristin Harlow — Tue, 31 Mar 2026 13:52:51 +0000

MINNESOTA — Greystone has provided a $46.7 million bridge-to-HUD loan for the refinancing of a five-property seniors housing portfolio totaling 153 beds in Minnesota. David Young of Greystone originated the financing with assistance from colleagues Chris Clare, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher. The properties, consisting of 97 assisted living and 56 memory care beds, are located throughout the metro Twin Cities and are managed by a regional seniors housing provider. Structured as a 24-month, interest-only bridge loan with two six-month extension options, the financing enables the borrower to refinance existing bond debt and positions the portfolio for permanent HUD financing, according to Greystone.

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Founders Properties Buys Two-Building Industrial Portfolio Near Minneapolis for $26.4M

Kristin Harlow — Fri, 27 Mar 2026 13:09:59 +0000

EAGAN, MINN. — Founders Properties has acquired Gateway I & II, a fully leased, two-building industrial portfolio totaling 169,656 square feet on Lone Oak Road in Eagan, for $26.4 million. The properties, built in 2016 to 2018, feature a clear height of 24 feet, ample dock doors and fenced trailer parking. Judd Welliver and Bentley Smith of CBRE represented the undisclosed seller.

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United Properties Begins Development of 143-Unit Active Adult Community in Minnesota

Kristin Harlow — Thu, 26 Mar 2026 13:52:41 +0000

CORCORAN, MINN. — United Properties has broken ground on Amira Corcoran, a 143-unit active adult community in Corcoran, about 22 miles northwest of Minneapolis. The four-story development expands the Amira senior living portfolio in metro Twin Cities. The project will offer studio, one-, two- and three-bedroom apartments. Amenities will include a clubroom, fitness and yoga spaces, an arts and crafts studio, golf simulator lounge, walking trails and an outdoor amenity patio with a pool and hot tub. The first move-ins are anticipated in summer 2027. The project team includes architect Momentum Design Group, general contractor Eagle Building Co. and property manager Great Lakes Management.

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