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MinnesotaCRE

Oak Grove Capital closes $26.5 million loan to help company purchase 226-unit apartment company in Minnesota

Staff Writer April 5, 2017
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Oak Grove Capital recently originated a $26.5 million loan for Woodlane Place Townhomes, a multi-family community in Woodbury, Minn.

Oak Grove Capital secured the 35-year fully amortizing loan for At Home Apartments, which used the financing to acquire the property.

“This particular deal had many moving pieces and real-time adjustments, forcing us to constantly adapt,” said Scott Streiff, vice president at Oak Grove Capital. “Our internal team and counsel worked extremely hard. They deserve a lot of the credit in getting this deal to the finish line.”

Built in 1988, Woodlane Place Townhomes is a 226-unit market-rate complex of 31 one- and two-story townhome-style buildings with attached garages.

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