PCCP Finances Reuter Walton’s Loring Park MF Build
PCCP LLC has completed a $44.8-million senior loan to Reuter Walton Development for the development of a 231-unit apartment project in downtown Minneapolis. The developer’s six-story 1400 Nicollet Ave. project is located in the Loring Park neighborhood, where Reuter Walton opened its 75-unit Harlo this past summer.
“Reuter Walton Development is an experienced local developer and builder that has completed numerous successful projects throughout Minneapolis,” said VP Brendan Shanahan with PCCP. “The company creates vibrant, community-driven projects and has a strong familiarity with the site and neighborhood.”
The project will feature units that are smaller and more affordable than many new-construction apartment properties downtown, with 80% of the units priced between $1,200 and $1,800 per month.
However, it will still contain luxury amenities including a tenant lounge, pet spa and rooftop deck. It will also include 10,000 square feet of street-level retail and two levels of secured parking.
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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