Northmarq Secures $50M Refinancing of Multifamily Asset in MN

Northmarq Secures $50M Refinancing of Multifamily Asset in MN
News| October 12, 2026| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Northmarq has arranged $50 million in financing for Ardor on the Bluffs, a 235-unit mid-rise multifamily community in Bloomington, Minnesota.

Located at 3701 American Blvd, the complex is located just minutes from MSP International Airport and the Mall of America. Northmarq’s Minneapolis Debt + Equity team, led by Dan Trebil, arranged the financing on behalf of the borrower through a relationship with a life insurance company. “Ownership and management have done a tremendous job at Ardor, and this new financing will allow ownership flexibility as they complete their lease-up,” said Trebil.

Completed in December 2024, Ardor on the Bluffs is a six-story luxury multifamily community offering studio, one- and two-bedroom apartment homes. Situated in Bloomington’s South Loop district, Ardor on the Bluffs provides convenient access to a wide range of employment centers and transportation corridors. The surrounding area also offers a selection of shopping, dining and entertainment destinations

Other News

Catholic Charities Cuts Ribbon on $143M Affordable Seniors Housing in Brownsville

New York & Tri-State

City and state officials joined representatives from Catholic Charities and community leaders to cut the ribbon on the new Catholic Charities Gail P. Duke Senior Residence. The $143.4-million development will provide 141 units of affordable sustainable apartments for low-income seniors with supportive services in the Brownsville neighborhood of Brooklyn. The Gail P. Duke Senior Residence,...

Learn more

Upland Apartments with Value-Add Potential Trade to Limited Partnership

California & West + Apartment Buildings

Marcus & Millichap finalized the sale of Amber Pines Apartments, a 23-unit multifamily property located at 330 Amber Ct. in Upland. The property sold for $5.9 million, or $257,717 per unit. “Amber Pines features a mix of spacious studio, one- and two-bedroom floor plans,” said Douglas McCauley, senior managing director investments. “The asset’s prime north...

Learn more

PREMIER Design + Build Launches Adaptive Reuse at Merritt 7 Complex

New York & Tri-State + Apartment Buildings

PREMIER Design + Build Group has launched construction on M7 Lofts, a multifamily adaptive reuse project developed by Saber-Hightower and Granoff Real Estate. The project will convert two existing office buildings at the Merritt 7 campus in Norwalk, CT into 286 loft-style apartments across 511,000 square feet spanning eight floors. M7 Lofts represents a significant...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up