JLL Capital Markets has arranged $44.05 million in construction financing for the University & Raymond multi-housing property in the Saint Anthony Park neighborhood of St. Paul, Minnesota.
JLL represented the borrower, UniRay, LLC, to secure the 85 percent LTC participating loan through Principal Real Estate Investors, the lender.
University & Raymond will consist of 220 homes, with amenities that include in-unit laundry, central air and quartz countertops. Sitting on 1.18 acres, the property’s community amenities include a fitness center, outdoor courtyard with a pool, clubroom with full kitchen and wet bar, fully automated building access systems and a rooftop patio.
The apartments are located at the corner of University & Raymond in Saint Anthony Park. University & Raymond is situated in proximity to both the Minneapolis CBD, the Saint Paul CBD and next to the University of Minnesota. Saint Anthony Park is an energized neighborhood accompanied by continuous growth and easy access to both downtown areas.
The JLL Capital Markets team was led by Senior Directors Russ Kappenman and Josh Talberg, and included Senior Directors Dan Linnell, Mox Gunderson and Managing Director Ken Dayton.