McGough Development Secures $65M Construction Loan For Multifamily Property In Bloomington, Minneapolis

The multifamily property located at 8100 31st Ave. South, Bloomington, Minneapolis has undergone a closed transaction. The property consists of 403 units, offering a spacious and accommodating living space for its residents.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Address: 8100 31st Ave. South, Bloomington, Minneapolis
• Market: Bloomington, Minneapolis
• Lender: Associated Bank - Randy Stille & Old National Bank
• Landlord: McGough Development
• Loan Type: Construction Loan

Randy Stille from Associated Bank and Old National Bank were the lenders providing the construction loan of $65,000,000 for this multifamily property transaction. Meanwhile, McGough Development acted as the landlord overseeing the development of the project.