Thorofare Capital, an affiliate of asset management platform Callodine Group, provided a $42.89 million bridge loan to refinance Risor of St. Louis Park, a 170-unit mid-rise multifamily property in the Twin Cities market.

The sponsor, Roers Companies, will use the financing primarily to retire an existing construction loan on the Class A property at 3510 Beltline Boulevard, roughly 15 miles southeast of downtown Minneapolis. Scott Loving, William Hintz, Scott Streiff and Gary Marchiori in the Minneapolis office of JLL Capital Markets’ arranged the loan on behalf of Roers Companies.

The active 55+ community property was delivered in November 2023 and is currently 78% occupied. Risor of St. Louis Park is a six‐story building with one interior courtyard and 4,000 square feet of ground‐floor retail space.

“Risor of St. Louis Park offers an attractive location with proximity to major employment hubs and lifestyle amenities offered in the West End area,” said Thorofare’s Head of Originations Felix Gutnikov.

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