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JLL Arranges Acquisition Debt on Twin Cities Office Park

A JLL Capital Markets team has arranged a $52.5-million loan to finance the acquisition of Grand Oak Business Park, a 10-building, Class A business park in the Twin Cities suburb of Eagan, MN. The group worked on behalf of Group RMC to place the loan with Morgan Stanley.

JLL’s Adam Schwartz, Aaron Appel, Keith Kurland, Jonathan Schwartz, Matt Collins and Patrick Heitmann led the team handling the debt assignment.

“Grand Oak Business Park is the premier office park in the Southeast submarket,” said Adam Schwartz. “The park provides a highly desirable location for businesses looking to access the nearby metro area, and offers employees convenient access to highly sought-after amenities.”

The 10-building Grand Oak Business Park is located on 83.5 acres of land, and comprises eight office buildings and two retail properties totaling 550,224 square feet. The buildings were constructed between 1999 and 2007, and are approximately 92% occupied.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Financing
  • ◦Sale/Acquisition