CBRE Arranges $11 Million Refinancing for Grandview Square in Edina, Minnesota

CBRE has arranged $11 million in refinancing for Grandview Square, a 98,561-square-foot Class A office property in Edina.

Billy Mork, Joel Torborg and Mike Vannelli of CBRE Capital Markets' Debt and Structured Finance team in Minneapolis secured a five-year, fixed-rate, full-term interest-only loan at 5.89% on behalf of Capital Partners, a Minnesota-based commercial real estate investment and management firm.

"Grandview Square drew competitive interest because it has the fundamentals lenders are looking for right now, which includes full occupancy, a diverse tenant roster and an owner that has consistently reinvested in the asset," said Mork. "Those strengths ultimately helped secure financing from a life insurance company with competitive terms, including a full-term interest-only structure that gives Capital Partners meaningful cash flow flexibility and rate certainty over the loan term."

Grandview Square is located at 5201 Eden Ave. in Edina's Grandview district, a walkable mixed-use area that includes the Edina Public Library and Grandview Square Park. The property is situated along Highway 100 just north of Highway 62, providing convenient access to downtown Minneapolis, Minneapolis-Saint Paul International Airport and the 50th & France retail corridor.

Built in 2001 and renovated in 2025, the property offers a variety of amenities, including surface and heated underground parking, a fitness center with locker rooms, showers and a sauna, a golf simulator, shared conference rooms, a tenant lounge and an outdoor patio. The three-story building is 100 percent leased to 16 tenants.