NorthMarq Arranges $50 Million Bridge Loan For Bloomington Apartments LLC Multifamily Property In MN

The subject property is a multifamily asset located at 3701 American Boulevard East in Bloomington, Minnesota, comprising a total of 235 units. The property is part of the Bloomington Apartments, LLC ownership. It has recently undergone a refinancing process to secure funding for operational flexibility during lease-up.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,000,000
• Loan Type: Bridge
• Loan Terms: 3-year
• Market: Bloomington, MN
• Landlord: Bloomington Apartments, LLC
• Broker: NorthMarq

NorthMarq facilitated the refinancing arrangement, securing a $50 million bridge loan through a life insurance company, which provides ownership flexibility during the lease-up phase of the multifamily property. This transaction highlights NorthMarq's role in supporting the financing needs for the property's ongoing operational strategy.