JLL Capital Markets announced that it has secured a $33.241 million financing for Risor of Maple Grove, a 169-unit luxury 55+ multifamily property in Maple Grove, Minnesota.
JLL worked on behalf of the borrower, Roers Companies, to originate the five-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.
Risor of Maple Grove, located at 9775 Grove Circle N, offers convenient access to major transportation arteries, including I-94 and I-610, providing easy connectivity to the greater Minneapolis metro area. The community is situated directly adjacent to North Memorial Health Hospital and is just minutes away from premier shopping destinations, a thriving job market, and abundant recreational opportunities, making it ideal for renters aged 55+.
Maple Grove, one of the most affluent suburbs in the Twin Cities metro, boasts an average household income of $165,411 and has experienced significant growth, adding over 12,500 jobs since 2011.
Risor of Maple Grove, completed in June 2023, is a four-story 55+ rental. The community offers a mix of studios, one- and two-bedrooms units, with an average unit size of 1,002 square feet. Residents enjoy high-end finishes including LG stainless steel appliances, white cabinetry with gray kitchen islands, gas ranges, and luxury vinyl plank floors.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Scott Loving, Senior Director Scott Streiff, Vice President Gary Marchiori, and Associate Will Hintz.
“The successful financing of Risor of Maple Grove demonstrates the continued strength of the Twin Cities multifamily market, particularly in high-growth suburban areas,” said Loving. “This property’s strategic location, top-tier amenities and focus on the 55+ demographic make it an attractive investment in today’s market.”
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.
