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JLL Arranges $250M for 601W’s Downtown Minneapolis Redevelopment
JLL’s Capital Markets group arranged $250 million in financing for The Dayton’s Project, a historic redevelopment incorporating Class A office, retail and dining space at 700 Nicollet Mall in downtown Minneapolis.
A JLL team of senior managing directors Jaime Fink, Jeffrey Bramson, Bruce Miller and Keith Largay worked on behalf of 601 W Companies to secure the three-year, floating-rate loan through a joint venture between Winthrop Strategic Real Estate Fund and funds managed by affiliates of Fortress Investment Group LLC.
For more than 100 years, 700 Nicollet Mall was a vital fixture in downtown Minneapolis serving as the home to Dayton’s and later, Macy’s department stores. The redevelopment intends to pay homage to the building’s history and reinvent the 12-story property for the 21st century.
Plans for the 1.2 million-square-foot project include modern offices with expansive floorplates, dining and retail spaces and a 45,000-square-foot food hall and market.
- ◦Development
- ◦Financing
