JLL Capital Markets secured a $50 million refinancing for The Fox and The Grouse, a 237-unit multi-housing property in the Golden Triangle neighborhood of Eden Prairie, Minnesota.
JLL represented the partnership of Greco and Eagle Ridge Partners, as well as joint venture equity partner Amstar Group, in arranging the five-year loan through PNC Bank.
The Fox & The Grouse Phase I, located at 6901 Flying Cloud Dr., delivered its first units in December 2024 and completed construction in April 2025. The property showcased an impressive lease up, surpassing initial projections leading to an ahead of schedule stabilization. The development features 205,561 square feet of rentable space across alcove, one-, two- and three-bedroom units averaging 867 square feet.
The project includes 25% affordable housing with 49 units at 50% area median income (AMI) and 12 units at 80% AMI, qualifying for beneficial 4d tax classification and an accretive TIF note. Residents enjoy world-class amenities including an outdoor pool, golf simulator, pickleball courts, club-quality wellness center, work-from-home spaces, theater room and underground parking with 315 garage stalls.
Strategically positioned in Eden Prairie’s Golden Triangle district, the property benefits from proximity to over 600 companies and 20,000 jobs representing half of the city’s employment base. The development will have direct access to the Southwest Light Rail Transit Green Line Extension’s Golden Triangle Station, scheduled to open in 2027, providing seamless connectivity to downtown Minneapolis, the University of Minnesota and MSP International Airport.
JLL Capital Market’s Advisory Team representing the sponsor was led by Scott Loving, Josh Talberg, Joe Peris, Will Hintz and Colin Ryan.
