DENVER, June 22, 2020 – JLL Capital Markets announced today that it has arranged $28 million in financing for The Cliffs at Minnetonka, a 456-unit garden-style apartment community in Minnetonka near Minneapolis, Minnesota. 

JLL worked on behalf of the borrower, The Cliffs Limited Partnership LLP, to originate the 10-year, fixed-rate Fannie Mae loan. The loan, which will be used to refinance an existing loan, will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender. 

Completed in 1988, The Cliffs at Minnetonka is located at 12300 Marion Lane in a busy commercial corridor close to the Interstate 394 and 494 interchange in suburban Minneapolis. The 27.5-acre site features six four-story buildings with 456 units. 

The JLL Capital Markets team representing the borrower was led by Senior Director Brock Yaffe.