MINNEAPOLIS — Thorofare Capital, an affiliate of Callodine Group LLC, has provided a $42.9 million bridge loan for the refinancing of Risor of St. Louis, an active adult community located in Minneapolis. Roers Cos. is the borrower.
Completed in November 2023, the community totals 170 units reserved for residents age 55 and older. The property was 78 percent occupied at the time of financing.
Amenities at the community, which totals six stories and features 4,000 square feet of ground-floor retail space, include covered parking, a coffee bar, golf simulator, pet wash, fitness center, movie theater, library lounge, clubroom, pool, spa, outdoor grill stations, a pickleball court and sky lounge.
Scott Loving, William Hintz, Scott Streiff and Gary Marchiori of JLL Capital Markets arranged the financing on behalf of the borrower.