MinnesotaFinance Bellwether closes loan for 552 apartment units in St. Paul area March 20, 2019 Share on Facebook Share on Twitter Share on LinkedIn Share via email Bellwether Enterprise Real Estate Capital LLC closed a combined $32 million in two loans to refinance two multifamily developments totaling 552 apartments in the St. Paul, Minnesota, area. The deals include: Palisades Apartments, a $20 million loan for a three-story, 330-unit building at 560 W. Sandhurst Drive in Roseville, Minnesota. This loan refinances an existing Bellwether Enterprise loan from 2011 with the same lender, Securian Financial Group. The 10-year loan is interest-only for the first five years with a 30-year amortization period. Palisades Apartments features a number of amenities including indoor and outdoor pools, a hot tub, a party room, and a fitness center. Como Park Apartments, a $12 million loan for a three-story, 222-unit building at 1385 W. Jessamine Ave. in St. Paul. The refinanced 10-year loan is interest-only for the full term, and the lender was Thrivent Financial for Lutherans. Como Park amenities include an indoor and outdoor pool, tennis and basketball courts, a rooftop deck, and a fire pit. Mike Polencheck, a senior vice president of Bellwether Enterprise in the Minneapolis office, arranged both loans.