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May 30, 2019 Comments Off on Dekel Delivers $41M for Greater Minneapolis MF Views: 751 Midwest, Minnesota, National News

Dekel Delivers $41M for Greater Minneapolis MF

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Los Angeles-based Dekel Capital arranged $41 million in value added financing from Ares Real Estate Group for Central Park West, a 199-unit multifamily property in the Minneapolis submarket of St. Louis Park, MN. The financing is from debt funds managed by Ares, and will be used to retire the existing construction loan and provide for the continued lease up and stabilization of the property.

The 81% leased property features a mix of studio, one, two, and three-bedroom apartment homes. Each includes stainless steel appliances, wood flooring and in-unit washer and dryers. Property amenities include clubhouse, business center, resort-style pool with tanning ledge, fitness room and outdoor patio seating areas.

Dekel Capital’s Shlomi Ronen says, “Minneapolis continues to experience strong population and job growth, excellent demand drivers for multifamily development.”

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