CBRE Arranges Sale and Acquisition Financing for Two-Property Industrial Portfolio in Maple Grove, Minnesota

CBRE has arranged the sale and acquisition financing for a 255,501-square-foot industrial portfolio featuring two properties in Maple Grove. Enclave purchased the portfolio from Artis REIT for $25.5 million.

CBRE’s Judd Welliver, Bentley Smith, Zach Graham, Ryan Bain, Michael Caprile and Joe Horrigan represented the seller in the transaction. CBRE’s Joel Torborg, Mike Vannelli and Billy Mork of CBRE Capital Markets’ Debt and Structured Finance team in Minneapolis secured the fixed-rate, interest-only $15 million loan on behalf of the buyer.

“The asset attracted strong investor interest due to its infill location and the stable, durable cash flow generated by tenants on long-term leases,” said Smith. “Additionally, the buyer is acquiring the property at a significant discount to replacement cost, which was a key factor driving the purchase decision. We are seeing the strongest capital markets climate since 2022 and expect that to continue through next year.”

The offering, located at 9200 Forestview Lane N. and 9155 Cottonwood Lane, is currently 100% leased to two tenants and is located southwest of the intersection of Highway 610 and 169 in the Northwest industrial submarket. The portfolio allows access to over 4.3 million square feet of retail amenities, including Park Place Promenade, the Arbor Lakes development, and The Grove.

“We are pleased to have secured attractive life insurance company financing for Enclave on this industrial acquisition,” said Mork. “The financing structure provided the best combination of leverage, interest only, and interest rate and aligns well with the buyer's investment strategy for these well-located and fully leased assets.”