Roers Companies has secured a $42.9 million bridge loan refinancing to take out the construction loan for Risor SLP, a 170-unit, 55-plus apartment community completed in November 2023 in St. Louis Park, Minn.
JLL worked on behalf of the borrower in arranging the 2.5-year, floating-rate refinance.
Risor SLP, located at 3510 Beltline Blvd., offers access to Highway 7 and Highway 100, just minutes from downtown Minneapolis. Its location appeals to active adults aged 55 and up seeking high-quality suburban living with connections to major employers, shopping and entertainment.
Risor SLP, a six-story residential complex built in 2023, offers a contemporary living experience featuring 170 units, including 18 affordable apartment units for income-restricted renters. The unit mix comprises studios and one-, two- and three-bedroom layouts, all designed with high-end finishes including white cabinetry, gray kitchen islands, gas ranges and luxury vinyl plank floors. Reside
