PCCP Provides $44.8M Senior Loan for Development of Apartment Project in Minneapolis

MINNEAPOLIS — PCCP has provided a $44.8 million senior loan for the development of 1400 Nicollet Avenue, a proposed 231-unit apartment project in the Loring Park neighborhood of Minneapolis. Reuter Walton Development is developing the project, which will include 10,000 square feet of ground-floor retail space and 170 parking spaces. Approximately 80 percent of the units will be priced between $1,200 and $1,800 per month. Amenities will include a tenant lounge, clubroom, game room, fitness center, pet spa, bike storage and repair center, rooftop deck and pool. A timeline for construction was not disclosed.