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JLL Arranges Sale, Acquisition Financing for Apartments in St. Paul

JLL closed the sale of and the acquisition financing for The Cosmopolitan Apartments, an eight-story, 258-unit, multi-housing community located in the historic Lowertown neighborhood of St. Paul, Minnesota.

JLL worked on behalf of the seller, AEW Capital Management, and Bigos Management acquired the asset. Bigos Management was represented by Will Tansey of Felhaber Larson law firm. JLL also worked on behalf of the new owner to secure the Fannie Mae loan which will be serviced by JLL Real Estate Capital, LLC.

The JLL Capital Markets Investment Sales and Advisory team was led by Josh Talberg, Mox Gunderson and Dan Linnell, Adam Haydon and Devon Dvorak. Ken Dayton and Pat McMullen led the JLL Capital Markets Debt Advisory team.

The Cosmopolitan Apartments was originally a Neoclassical building from 1911, which was transformed into an apartment community in 1989. Since then, the building has undergone $8 million in upgrades to modernize the historic property.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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