Northmarq’s Minneapolis Debt + Equity team arranges $40.625M acquisition financing of Bristol Village apartments

BLOOMINGTON, Minn. — Northmarq’s Minneapolis Debt + Equity team successfully arranged the $40.625 million acquisition financing of Bristol Village, a 290-unit garden apartment and townhome-style community located at 7301 Bristol Village Dr. in Bloomington, Minnesota.

Northmarq arranged financing on behalf of the borrower, Hegenes Properties Inc., through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term.

Built in 1987 and situated on 18.27 acres, Bristol Village features studio-, one- and two-bedroom floorplans with central air and heating, wood laminate plank flooring, granite countertops, comfortable open living rooms, stainless steel appliances and an in-home stackable washer and dryer.

Community amenities include on-site management and 24-hour emergency maintenance, outdoor heated pool, gas fire table, resort-style social room, 24-hour fitness center, package lockers, gas grills, elevator and a pet-friendly environment.

Bristol Village features great views of the nearby preserves and is close to local biking, hiking and jogging trails. It boasts convenient access to Interstate 494 and U.S. Highway 169, nearby shopping at Valley West and Eden Prairie Center, and local restaurant and coffee shops.