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JLL Arranges Refi on Minneapolis-Area Multifamily
JLL Capital Markets arranged $28 million in financing for The Cliffs at Minnetonka, a 456-unit garden-style apartment community in Minnetonka, MN, a suburb of Minneapolis. The JLL Capital Markets team representing the borrower was led by Senior Director Brock Yaffe.
Yaffe and his team worked on behalf of the borrower, The Cliffs Limited Partnership LLP, to originate the 10-year, fixed-rate Fannie Mae loan. The loan, which will be used to refinance an existing loan, will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.
Completed in 1988, The Cliffs at Minnetonka is located at 12300 Marion Ln. in a busy commercial corridor close to the Interstate 394 and 494 interchange. The 27.5-acre site features six four-story buildings with 456 units.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing


