Monarch Development Partners Red Leaf Partners Brue Baukol Capital Partners Secures $22.73M Refinance For One West Drive In Excelsior MN

The property asset involved in the transaction is One West Drive, located in Excelsior, MN. This multifamily asset comprises 49 units, developed by Monarch Development Partners, Red Leaf Partners, and Brue Baukol Capital Partners. The project features seven two-story buildings consisting of one- to three-bedroom units, rowhomes, underground parking, and luxury amenities. It was completed in late 2024 and is strategically positioned between Excelsior’s historic downtown and single-family neighborhoods.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $22,727,000
• Loan Type: Refinance
• Address: One West Drive
• Market: Excelsior, MN
• Units: 49
• Landlord: Monarch Development Partners, Red Leaf Partners & Brue Baukol Capital Partners
• Broker: Andy Finn - NorthMarq

Northmarq arranged the refinance of the property through its Fannie Mae DUS platform. The arrangement aims to provide permanent fixed-rate financing for the multifamily development, ensuring continued stability for the owners and supporting the property's position within the neighborhood.