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Bellwether Arranges Refi on Two St. Paul-Area Apartment Houses
Bellwether Enterprise Real Estate Capital LLC has closed on a combined $32 million in two loans to refinance two multifamily developments totaling 552 apartments in the St. Paul, MN area. Mike Polencheck, an SVP in Bellwether Enterprise’s Minneapolis office, arranged both loans.
The deals include:
• Palisades Apartments, a $20-million loan for a three-story, 330-unit building located at 560 West Sandhurst Drive in Roseville. This loan refinances an existing Bellwether Enterprise loan from 2011 with the same lender, Securian Financial Group.
• Como Park Apartments, a $12-million loan for a 3-story, 222-unit building at 1385 W. Jessamine Ave. in St. Paul. The refinanced 10-year loan is interest-only for the full term, and the lender was Thrivent Financial for Lutherans.
“Bellwether Enterprise was able to refinance these properties because of our longtime relationships with local borrowers that enable us to provide the diverse solutions our clients need,” said company president Ned Huffman.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

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