Minnesota Apartments Secure $23M in Deal Brokered by Northmarq

Northmarq’s Minneapolis Debt + Equity team led by Andy Finn successfully arranged the $22.727 million refinancing of One West Drive, a 49-unit boutique apartment located at One West Drive in Excelsior, Minnesota.

Northmarq arranged the permanent fixed rate financing on behalf of the borrower, which included Monarch Development Partners, Red Leaf Partners and Brue Baukol Capital Partners through the firm’s in-house Fannie Mae DUS platform.

Completed in late 2024, One West Drive features seven connected two-story buildings and boasts a location between Excelsior’s historic downtown and a single-family residential village. Unit options include one-, two- and three-bedroom apartments as well as two-bedroom rowhomes with private rooftops and garages.

Community amenities include a spa pool with lounge seating, an indoor/outdoor fitness and yoga studio, private dining room, a co-working lounge, outdoor grilling and dining with firepit, resident garden area, two story lobby and a dog run and spa.

Join us on Tuesday afternoon, June 2, 2026, at the Connect Midwest Multifamily Trends Conference as JDL Founder, Jim Leitchinger, is honored with the Changing Skyline Award, followed by an exclusive Keynote Interview. This is a rare opportunity to hear firsthand insights from one of the region’s most influential visionaries in multifamily development.