Mankato, Minn. —Tailwind Group has appointed Brandon Smith to the roles of president and CEO and Lane Gravley to the role of chief people officer. Smith’s duties as CEO will begin immediately. Gravley, who currently acts as president within the organization, will continue in his role over the next few months and will transition presidential responsibilities over to Smith during that period. Upon the transition’s completion, Gravley will move into the newly created role of chief people officer. In his new role, Gravley will focus on working with company leaders to …
Minnesota
Minnetonka, Minn. — The Opus Group has promoted Ben Angelo to senior vice president of real estate development. In his new role, Angelo will lead the Minnetonka, Minnesota-based firm’s student living division. His responsibilities will include sourcing and pursuing new markets and opportunities; overseeing new development projects; and feasibility and financial analysis. Angelo joined Opus in 2016 and has over 20 years of experience in commercial real estate. “Since joining Opus, Ben has been instrumental in the growth of our student living portfolio,” says Executive Vice President Matt Rauenhorst. “We …
Landmark Properties to Develop 1,021-Bed Student Housing Community Near University of Minnesota
Minneapolis — Landmark Properties is undertaking its first development project in Minnesota, a 1,021-bed student housing community located within walking distance of the University of Minnesota in Minneapolis. Named The Standard at Dinkytown, the project will offer several floor plans ranging from studios to five-bedroom units with 30 affordable housing units. Rental rates at the property will include cable, internet, trash and all furniture. Amenities will include an outdoor pool area with a jumbotron, sun deck, cabanas, outdoor grilling stations and rooftop hot tub as well as a fitness center, clubhouse, gaming …
JLL Brokers $25 Million Sale of Student Housing Property Near University of Minnesota
Minneapolis — JLL Capital Markets has brokered the sale of Stadium Village Apartments near the University of Minnesota for $25 million. Originally constructed in 1960, the 121-unit student housing property is located at 1015 Essex St. within the Stadium Village neighborhood. Floor plans range from studios to two-bedroom units. Stewart Hayes, Josh Talberg, Dan Linnell, Mox Gunderson, Scott Clifton, Teddy Leatherman and Riley McChesney of JLL represented the seller. Buyer and seller information was not disclosed.
Grandbridge Arranges $35.4 Million Refinancing for 199-Unit Community Near the University of Minnesota
Minneapolis — Grandbridge Real Estate Capital has arranged a $35.4 million refinancing for The Arrow Apartments, a 199-unit community located near the University of Minnesota in Minneapolis. Chris Perry, Brett Olson and Joe Lindberg of Grandbridge originated the permanent, fixed-rate loan, which was funded through an undisclosed credit union. The financing offers an initial period of interest-only payments with a five-year term and 30-year amortization schedule. The Arrow Apartments offers shared amenities including a fitness center, multiple study rooms, a printing center, rooftop deck and a 24-hour fitness center.