Risor of St. Louis Secures $42.9 Million Refinancing for Minneapolis Community
Deal News | Feb 07, 2025 | Thorofare Capital Inc
Thorofare Capital, an affiliate of Callodine Group LLC, has granted a significant $42.9 million bridge loan for the refinancing of Risor of St. Louis, an active adult community located in Minneapolis. This community, which was completed in November 2023, includes 170 units for residents aged 55 and older, and features impressive amenities such as covered parking, a golf simulator, and a sky lounge. At the time of financing, the property had a 78% occupancy rate. Thorofare's involvement underscores the potential seen in the active adult community sector. JLL Capital Markets professionals Scott Loving, William Hintz, Scott Streiff, and Gary Marchiori facilitated the financing for the borrower, Roers Cos., highlighting the area's attractiveness for rental investments.
Sectors
- Real Estate
- Financial Services
Geography
- United States – The financing deal and the real estate project are located in Minneapolis, highlighting the U.S. real estate and finance sectors.
- Minneapolis – The active adult community, Risor of St. Louis, which received the loan, is located in Minneapolis, emphasizing this specific local market.
Industry
- Real Estate – The article discusses the financing of an active adult community in Minneapolis, a sector within real estate focused on housing solutions for seniors.
- Financial Services – Thorofare Capital, a financial services company, provided the bridge loan, illustrating the role of financial institutions in real estate development financing.
Financials
- $42.9 Million – The amount of the bridge loan provided by Thorofare Capital for the refinancing of Risor of St. Louis.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Thorofare Capital | Lender | Company | Thorofare Capital is a financial firm that provided the $42.9 million bridge loan. |
| Callodine Group LLC | Parent Company | Company | Callodine Group LLC is the parent company of Thorofare Capital. |
| Risor of St. Louis | Target/Property | Company | Risor of St. Louis is the active adult community in Minneapolis receiving the refinancing. |
| Roers Cos. | Borrower | Company | Roers Cos. is the company borrowing the funds for the refinancing of Risor of St. Louis. |
| JLL Capital Markets | Financial Advisor | Company | JLL Capital Markets facilitated the financing arrangement on behalf of Roers Cos. |
| Scott Loving | Financial Advisor | Person | Scott Loving is one of the JLL Capital Markets professionals involved in arranging the financing. |
| William Hintz | Financial Advisor | Person | William Hintz is one of the JLL Capital Markets professionals involved in arranging the financing. |
| Scott Streiff | Financial Advisor | Person | Scott Streiff is one of the JLL Capital Markets professionals involved in arranging the financing. |
| Gary Marchiori | Financial Advisor | Person | Gary Marchiori is one of the JLL Capital Markets professionals involved in arranging the financing. |