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MINNEAPOLIS — Berkadia has arranged the refinancing of The Pillars of Prospect Park, a 283-unit seniors housing community in Minneapolis.
Austin Sacco and Steve Muth of Berkadia Seniors Housing & Healthcare secured bridge financing through a national bank on behalf of Harrison Street and Oppidan. The amount of the financing was not disclosed.
The three-year bank loan features three years of interest-only payments.
The property affords convenient access to downtown Minneapolis, the University of Minnesota Medical Center and Midland Hills Country Club. The Pillars of Prospect Park was built in 2020 and features an intergenerational living model that includes senior living, student living and a children’s daycare.