Marcus & Millichap Capital Corporation Arranges $89.6 Million Construction Financing for Two Minnesota Multifamily Projects
2025年1月30日 - 10:57AM
ビジネスワイヤ(英語)
Marcus & Millichap Capital Corporation (MMCC), a leading
provider of commercial real estate capital markets financing
solutions, arranged $89.6 million in financing for the construction
of Bennett Apartments and Harlow Apartments, two adjacent
multifamily projects located 15 miles southwest of Minneapolis in
Chanhassen, Minnesota.
Gary Sefcik in MMCC’s Manhattan office secured the financing.
Kayne Anderson provided $77.5 million in senior proceeds and
SteepRock Capital provided $12.1 million in mezzanine financing for
the sponsor, Minnesota-based Roers Companies.
“In addition to strong, locally based sponsorship and the
desirability of the Chanhassen submarket, our financing package
generated a high level of interest from national lenders for the
Midwest which has been enjoying robust economic growth and rental
demand with relatively limited supply,” said Sefcik.
The Bennett Apartments, located at 591 West 78th St., plan to
feature 184 units and 11,853 square feet of prime retail space. The
Harlow Apartments, at 570 Market St., plan to offer 126 units and
3,029 square feet of retail space. The projects are expected to be
completed in 2026 and provide future residents with luxury finishes
and amenities.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a
subsidiary of Marcus & Millichap (NYSE:MMI), a leading
commercial real estate investment services firm with offices
throughout the United States and Canada. MMCC provides commercial
real estate capital markets financing solutions, including debt,
mezzanine financing, preferred and joint venture equity, sponsor
equity, loan sales and consultative and due diligence services. In
2023, MMCC closed 1,076 transactions totaling $6.73 billion. To
learn more, please visit: marcusmillichap.com/financing.
About Marcus & Millichap, Inc. (NYSE:MMI)
Marcus & Millichap, Inc. is a leading national brokerage
firm specializing in commercial real estate investment sales,
financing, research and advisory services. As of December 31, 2023,
the Company had 1,783 investment sales and financing professionals
in over 80 offices who provide investment brokerage and financing
services to sellers and buyers of commercial real estate. The
Company also offers market research, consulting and advisory
services to our clients. Marcus & Millichap closed 7,546
transactions in 2023, with a sales volume of approximately $43.6
billion. For additional information, please visit
www.MarcusMillichap.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250129040443/en/
Gina Relva, VP of Public Relations
Gina.relva@marcusmillichap.com
Marcus and Millichap (NYSE:MMI)
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