Roers Cos. Refinances Terra Residences With $39.9M Loan In Maple Grove

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.