MINNEAPOLIS, MN - JLL Capital Markets announced today that it has arranged the $34.62 million refinancing of Savor Apartments, a 200-unit, mid-rise, market-rate multi-housing community located in West St. Paul, Minnesota.
JLL worked on behalf of the borrower, Roers Companies, to secure the fixed-rate, ten-year, full-term interest only, Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.
Newly built in 2022, Savor Apartments features one- and two-bedroom units with granite countertops, stainless steel appliances, vinyl plank flooring, in-unit washers and dryers and more. Community amenities include an entertainment suite, a community room, game room, work-from-home suites, coffee bar, rooftop skylounge, rooftop skydeck and a fitness center.
The property is situated at 1571 Robert Street S. and is minutes from US-52, allowing quick access to St. Paul and nearby suburbs.
The JLL Capital Markets Advisory team was led by Senior Director Scott Streiff and Managing Director Scott Loving.
Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.