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Bellwether Closes on Financing for Twin Cities Affordable
Bellwether Enterprise Real Estate Capital LLC closed the latest of nine deals with Midwest GIR Group totaling $18,139,000 for multifamily properties in Minneapolis and St. Paul. With the closing of Hatch Apartments, Midwest GIR Group has acquired more than 280 naturally affordable units in the past 16 months.
Minneapolis-based Bellwether VP Lucas Goring arranged the loans on behalf of the sponsors, Grow-Scale and Lee Yan from Midwest GIR Group.
“Lee and the Grow-Scale group have done an incredible job of finding underperforming properties in certain parts of the city that require more hands-on management,” said Goring. “Lee’s ability to roll up his sleeves and do the work necessary to create value has made his investors very happy. These loans show there is still a variety of sources available for any sort of acquisition financing.”
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