MINNEAPOLIS — GE Real Estate has provided $28.5 million in fixed-rate financing for the acquisition of a mixed-use property located in the warehouse district of downtown Minneapolis. The property, which was formerly a John Deere factory, contains 316,375 square feet of office and retail space, as well as a five-level parking garage. The property is occupied by more than 40 tenants, including design firms, modeling agencies, architects, and other creative and professional firms. The borrower, City Center Retail, plans to invest $4 million in renovations and upgrades, which will bring the property to market-level rent and occupancy rates. United Properties has been hired to market the property. The transaction was arranged by Scott McMullin and John Crump of Holliday Fenoglio Fowler.
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