JLL Capital Markets secured joint venture equity and construction financing totaling $55.62 million for The Fox and The Grouse Phase II, a 188-unit multi-housing development in the Golden Triangle neighborhood of Eden Prairie, Minnesota.
JLL represented the Sponsor, Greco and Eagle Ridge Partners, in facilitating the $39.12 million, three-year, floating-rate loan through MidWestOne Bank. JLL also sourced $16.50 million joint venture equity from Amstar Group.
The Fox & The Grouse Phase II, located at 6901 Flying Cloud Dr., will break ground immediately in August 2025. The six-story development will offer a mix of studios, one-, two- and three-bedroom units, with 25% of the homes designated as affordable at 50% and 80% area median income (AMI). The project features 167,312 square feet of rentable space and 263 parking stalls, providing a ratio of 1.40 spaces per unit.
Residents will enjoy an impressive amenity package including an outdoor pool, golf simulator, club-quality wellness center, work-from-home spaces, theater room, club room, private dining area and underground parking. The site’s unique setting includes over nine acres of wetlands, creating a distinctive environment that connects residents with nature.
The project, designed by BKV Group, represents the second phase of a significant transit-oriented development (TOD) that will be directly connected to the Golden Triangle Station on the Southwest Light Rail Transit Green Line Extension, scheduled to open in 2027. This location provides exceptional accessibility to major employment centers including Downtown Minneapolis, the University of Minnesota, and MSP International Airport.
The JLL Capital Markets Advisory Team representing the sponsor was led by Josh Talberg, Scott Loving, Joe Peris, Matthew Schoenfeldt, Colin Ryan and Will Hintz.
