Northmarq’s Debt + Equity team secures $50M refinancing of 235-unit multifamily property in Twin Cities metro
Photo source: Ardoronthebluffs.com
BLOOMINGTON, Minn. — Northmarq’s Minneapolis Debt + Equity team, led by Dan Trebil, arranged $50 million in financing for Ardor on the Bluffs, a 235-unit mid-rise multifamily community located at 3701 American Blvd. E. in Bloomington, Minnesota.
Northmarq arranged the financing on behalf of the borrower through a relationship with a life insurance company. The transaction is structured as a three-year with extensions bridge loan.
“Ownership and management have done a tremendous job at Ardor, and this new financing will allow ownership flexibility as they complete their lease-up,” Trebil said.
Completed in December 2024, Ardor on the Bluffs is a six-story luxury multifamily community offering studio, one- and two-bedroom apartment homes, some featuring in-unit fireplaces, built-in desks, quartz countertops and patios. Community amenities include several lounges, party rooms, a spa, pool, fitness center, underground parking and an incredible view of the river valley.
Situated in Bloomington’s South Loop district, Ardor on the Bluffs provides residents with convenient access to a wide range of employment centers and transportation corridors, including the Minneapolis-St. Paul International Airport, the Mall of America, I-494 and Highway 77. The surrounding area also offers an extensive selection of shopping, dining and entertainment destinations.
The property's location combines access to major transportation infrastructure with proximity to some of the region's largest retail, hospitality and employment destinations. These fundamentals continue to support the appeal of high-quality multifamily housing in the Bloomington market.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
