January 23, 2020
NKF arranged a $65-million floating rate loan on behalf of AJ Capital to refinance Graduate Minneapolis, a 304-key hotel on the University of Minnesota’s campus. The loan was provided by Aareal Capital.
The NKF team was led by Jordan Roeschlaub and Dustin Stolly, co-heads of the debt & structured finance group, along with Mark Schoenholtz, Nick Scribani, Chris Kramer and Drew Ahlers.
“The property’s location directly on campus makes it the preeminent choice for university-driven guests,” said Roeschlaub. “Furthermore, given its proximity to downtown Minneapolis, the university is also a top choice for anyone visiting in the metro area.”
Stolly added that AJ Capital, via its Graduate brand, “has found a true niche in the hospitality space by targeting university-centric assets and curating them to the local market.” AJ launched the Graduate brand in 2014 and acquired the Minneapolis property in 2016.
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