UniRay has plans to develop the University & Raymond multi-housing property in the Saint Anthony Park neighborhood of St. Paul, Minn. It received $44.1 million in construction financing.
JLL Capital Markets represented the borrower, UniRay LLC, to secure the 85 percent LTC participating loan through Principal Real Estate Investors, the lender.
University & Raymond will consist of 220 homes, with amenities that include in-unit laundry, central air and quartz countertops. Sitting on 1.18 acres, the property’s community amenities include a state-of-the-art fitness center, outdoor courtyard with a pool, clubroom with full kitchen and wet bar, fully automated building access systems and a rooftop patio.
The apartments are located at the corner of University & Raymond in Saint Anthony Park. University & Raymond is situated in proximity to both the Minneapolis CBD, the Saint Paul CBD and next to the University of Minnesota. Saint Anthony Park is an en
