JLL Capital Markets has arranged a $67 million refinancing for Nolan Mains, a 100-unit, mixed-used, mid-rise apartment community in the 50th and France neighborhood of Edina, Minnesota.
JLL worked on behalf of the borrower, Buhl Investors and Saturday Properties, to secure the Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
Built in 2019, Nolan Main was a public-private partnership with the City of Edina, helping transform and revitalize its historic downtown area. In addition to the 100 luxury units, there are 16 retailers and two levels of underground parking. Community amenities include a rooftop bar, spa with sauna and steam room, fitness center, a sunroom, a fenced dog run, gourmet chef ‘s kitchen, indoor and outdoor fireplace and seating area, club room and golf simulator.
The property is located in a live-work-play community with high barriers to entry. Additionally, the location offers walkability to the numerous shopping and dining options within the area.
The JLL Capital Markets Debt Advisory Team representing the borrower was led by Managing Director Scott Loving and Analyst Will Hintz.
