Oaks Minnehaha Longfellow apartment complex completes $21.7 million refinancing

Minneapolis-based apartment manager Oaks Properties LLC has completed a $21.7 million refinancing of its Oaks Minnehaha Longfellow apartment complex in Minneapolis, Bloomington-based commercial real estate investing firm Northmarq announced Wednesday.

The 179-unit upscale Oaks apartment complex was constructed in 2020, the news release said.

The refinance deal was set for a 5-year term with 3 years interest followed by a 35-year amortization schedule, according to Northmarq. The transaction was arranged by Mike Padilla, senior vice president of Northmarq’s debt and equity department.

Oaks Properties manages a portfolio of upscale apartment complexes in Minnesota, Missouri and Texas, eight of which are located in Minnesota.


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