JLL Capital Markets secured a $33.241 million financing for Risor of Maple Grove, a 169-unit luxury 55+ multifamily property in Maple Grove, Minnesota.
JLL worked on behalf of the borrower, Roers Companies, to originate the five-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.
Risor of Maple Grove, located at 9775 Grove Cir N, offers convenient access to major transportation arteries, including I-94 and I-610, providing easy connectivity to the greater Minneapolis metro area. The community is situated directly adjacent to North Memorial Health Hospital and is just minutes away from premier shopping destinations, a thriving job market, and abundant recreational opportunities, making it ideal for renters aged 55+.
Maple Grove, one of the most affluent suburbs in the Twin Cities metro, boasts an average household income of $165,411 and has experienced significant growth, adding over 12,500 jobs since 2011.
Risor of Maple Grove, completed in June 2023, is a four-story 55+ rental. The community offers a mix of studios, one- and two-bedrooms units, with an average unit size of 1,002 square feet. Residents enjoy high-end finishes including LG stainless steel appliances, white cabinetry with gray kitchen islands, gas ranges, and luxury vinyl plank floors. The community boasts an array of amenities such as a club room with kitchenette, golf simulator, a wine bar, indoor pool and spa, pickleball court and a top-floor skylounge.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Scott Loving, Senior Director Scott Streiff, Vice President Gary Marchiori, and Associate Will Hintz.
