Doug Seylar, managing director in CBRE’s Minneapolis office, originated financing. The owner, Rosedale Marketplace Associates, LP, is an entity affiliated with Tanurb Development Inc. from Toronto, Canada.
The new financing secured by the CBRE Capital Markets team allowed the borrower to retire the existing debt on the property and take advantage of today’s low interest rate environment. CBRE Capital Markets successfully secured a new mortgage for Rosedale Marketplace through its relationship with Morgan Stanley.
Rosedale Marketplace is a regional retail strip center located in the heart of the Roseville retail area, directly west of Rosedale Center, a 1.2 million-square-foot regional power center that boasts more than 12 million visitors per year. Total Wine, Hobby Lobby, Cost Plus World Market, and Men’s Warehouse anchor the property. Tanurb was the original developer of the property and has owned the property since its construction in 1989.
CBRE’s Minneapolis Debt and Structured Finance group of Doug Seylar, Joel Torborg, Ben Bastian, Jessica Burke and Mark Roos focuses on loan origination and equity placement of all asset types. The Debt and Structured Finance (DSF) team also helps provide investment and advisory services to meet the financing needs of real estate owners ranging from private investors to large public entities. For more information regarding our lending and mortgage banking services, please contact: Doug Seylar, Senior Vice President | Managing Director – CBRE Capital Markets, +1 612 336 4226; firstname.lastname@example.org
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.