MINNEAPOLIS — The Minneapolis office of CB Richard Ellis | Melody (CBRE) has arranged a total of $11.52 million in financing for two Minneapolis office buildings. The company arranged $7.07 million in permanent financing for Bassett Creek Business Center. The 134,867-square-foot, a multi-level office building, also contains 32 residential condos, which were not included as part of the loan’s collateral.
For the second property, The IDC Building, CBRE arranged $4.45 million in permanent financing. The four-story building consists of 63,930 rentable square feet of loft-style offices and first-floor retail. Douglas Seylar and Murray Kornberg of CBRE | Melody secured the funds on behalf of BC Properties and IDC Properties, both entities of Schafer Richardson. Financing was provided by Ameritas Life Insurance Corp.
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