NKF arranged a $65-million floating rate loan on behalf of AJ Capital to refinance Graduate Minneapolis, a 304-key hotel on the University of Minnesota’s campus. The loan was provided by Aareal Capital.
The NKF team was led by Jordan Roeschlaub and Dustin Stolly, co-heads of the debt & structured finance group, along with Mark Schoenholtz, Nick Scribani, Chris Kramer and Drew Ahlers.
“The property’s location directly on campus makes it the preeminent choice for university-driven guests,” said Roeschlaub. “Furthermore, given its proximity to downtown Minneapolis, the university is also a top choice for anyone visiting in the metro area.”
Stolly added that AJ Capital, via its Graduate brand, “has found a true niche in the hospitality space by targeting university-centric assets and curating them to the local market.” AJ launched the Graduate brand in 2014 and acquired the Minneapolis property in 2016.
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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).