Cohen Arranges $15M Bridge Loan for Minneapolis Apartments
Cohen Financial’s Cathy Bronkema recently secured a $15.35-million bridge loan for the acquisition of the Minneapolis Grand Apartments. The 112-unit rental property was 97% occupied at time of close.
Bronkema secured the financing with a private real estate investment fund based in New York. The borrower is a longtime Cohen Financial client, Grand Rapids, MI-based Trillium Investments.
“We secured the short-term bridge loan for Trillium to execute their business plan to enhance Minneapolis Grand’s value through upgrading the apartment units, thus enhancing overall value and returns,” said Bronkema. “The multifamily product continues to be the favorable property type for investors and lenders to achieve yield based on risk.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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