JLL Capital Markets closed the successful sale and financing for Rafter Apartments, a luxury multi-housing community in Minneapolis.
JLL represented the seller, a joint venture between Mortenson, The Excelsior Group and an institutional partner, and secured acquisition financing on behalf of the buyer, Roundhouse, to originate a Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.
Rafter Apartments, located at 333 E. Hennepin Ave. in Minneapolis’ Northeast neighborhood, offers residents access to downtown Minneapolis, the Mississippi River and the area’s dining and entertainment scene.
The 26-story high-rise, completed in 2019, features a mix of studios, one-, two- and three-bedroom units with high-end finishes and panoramic views of the city skyline. Rafter’s extensive amenity package includes a rooftop pool and sundeck, state-of-the-art fitness center, club room, co-working spaces, a maker’s room and more. Its prime location in the heart of Northeast Minneapolis, known for its artistic community and craft brewery scene, appeals to young professionals and those seeking an urban lifestyle.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Josh Talberg, Executive Managing Director Matthew Lawton, Director Joseph Peris and Managing Director Kevin Girard. JLL’s Debt Advisory team was spearheaded by Managing Directors Brandon Smith, Annie Rice and Scott Loving.
