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national   /   May 30, 2019

Dennis Kaiser
By: Dennis Kaiser

Dekel Delivers $41M for Greater Minneapolis MF

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

Los Angeles-based Dekel Capital arranged $41 million in value added financing from Ares Real Estate Group for Central Park West, a 199-unit multifamily property in the Minneapolis submarket of St. Louis Park, MN. The financing is from debt funds managed by Ares, and will be used to retire the existing construction loan and provide for the continued lease up and stabilization of the property.

The 81% leased property features a mix of studio, one, two, and three-bedroom apartment homes. Each includes stainless steel appliances, wood flooring and in-unit washer and dryers. Property amenities include clubhouse, business center, resort-style pool with tanning ledge, fitness room and outdoor patio seating areas.

Dekel Capital’s Shlomi Ronen says, “Minneapolis continues to experience strong population and job growth, excellent demand drivers for multifamily development.”

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience.
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