### Thorofare Capital Provides $42.89 Million for Twin Cities Senior Housing
Thorofare Capital, an affiliate of asset management platform Callodine Group, has provided a $42.89 million bridge loan to refinance Risor of St. Louis Park, a 170-unit mid-rise multifamily property in the Twin Cities market.
The financing will primarily be used to retire an existing construction loan on the Class A property, located at 3510 Beltline Boulevard, approximately 15 miles southeast of downtown Minneapolis. Roers Companies, the project sponsor, secured the loan with assistance from JLL Capital Markets’ Minneapolis office, represented by Scott Loving, William Hintz, Scott Streiff, and Gary Marchiori.
Delivered in November 2023, the active 55+ community is currently 78% occupied. Risor of St. Louis Park features a six-story building with an interior courtyard and 4,000 square feet of ground-floor retail space.
“Risor of St. Louis Park offers an attractive location with proximity to major employment hubs and lifestyle amenities offered in the West End area,” said Felix Gutnikov, Head of Originations at Thorofare Capital.
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