Cushman & Wakefield served as the exclusive advisor to National Housing Fund, LLC in arranging an $18.4 million non-recourse floating rate loan for a 16-property residential portfolio in Minneapolis. The short term bridge financing was provided by Prime Finance.
The portfolio consists of 371 residential units and six commercial spaces of about 215,000 square feet. The Twin Cities’ apartment market is one of the strongest in the nation, with a vacancy rate of 2.8 percent, which is well below the national average of 4.9 percent.
Cushman & Wakefield’s Equity, Debt & Structured Finance team, led by Dave Karson, Chris Moyer and John Spreitzer served as exclusive advisor to National Housing Fund, LLC.