FINANCED
Roers Cos. Refinances Terra Residences With $39.9M Loan In Maple Grove
16101 99th Place North
MultiFamily
Financed 74 days ago
Summary
Loan
MINNESOTA
MultiFamily
The property involved in the transaction is Terra Residences, a 250-unit apartment complex located at 16101 North 99th Place in Maple Grove, Minnesota. The property was built in 2023 and was recently refinanced with a $39.9 million loan from Freddie Mac. The loan features a 10-year fixed rate, with seven years of interest-only payments before transitioning to a 35-year amortization schedule.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $39,900,000
- Landlord: Brian Roers - Roers Cos.
- Brokers: Andy Finn & Dan Trebil - NorthMarq
The loan to refinance Terra Residences was secured by Andy Finn and Dan Trebil, representing Roers Cos. as the borrower. This transaction highlights the key individuals involved in arranging the financing, ensuring the successful refinancing of the 250-unit apartment complex in Maple Grove, Minnesota.
Players
All
3
Agents
2
Agencies
1
Details
FINANCED
IMAGE: Dan Trebil, Brian Roers & Andy Finn
DATE: 02/22/2024
ADDRESS: 16101 North 99th Place
MARKET: Maple Grove, MN
ASSET TYPE: Multifamily ~ UNITS: 250
LANDLORD: Brian Roers - Roers Cos. (@RoersCos)
BROKERS: Andy Finn & Dan Trebil - NorthMarq (@NorthMarq)
LOAN AMOUNT: $39,900,000
LOAN TYPE: Refinance
LOAN TERMS: 10-year, fixed-rate loan with seven years of interest-only payments followed by a 35-year amortization schedule
NOTE: Northmarq arranged a $39.9 million Freddie Mac loan to refinance Terra Residences, a 250-unit apartment complex in Maple Grove, Minnesota, built in 2023. The loan, with a 10-year fixed rate and seven years of interest-only payments, was secured by Andy Finn and Dan Trebil, with Roers Cos. as the borrower.View on map
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Address16101 99th Place North
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