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PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Tanya Broten
Marketing Specialist
+1 952 924 4839
[email protected]
CBRE ARRANGES $20,200,000 FINANCING FOR MOZAIC WEST
IN MINNEAPOLIS, MN
MINNEAPOLIS – January 30, 2015 – CBRE Capital Markets is pleased to announce it has arranged $20.2
Million of permanent financing for MoZaic West, located on the northeast corner of Hennepin Avenue and
Lagoon Avenue in the flourishing Uptown neighborhood of Minneapolis. The property is comprised of 95,189 SF
and is currently 100% occupied by multiple office, retail, and theater tenants. A few of the tenants include Bar
Louie, John Ryan, Keller Williams, mono and Origami. MoZaic West was built in 2012 and has since garnered
the following industry awards:
 Minneapolis/St. Paul Business Journal – Best in Mixed Use; Best in Office Build Out; Best in Restaurant
Build Out; Best Commercial Interior Renovation (mono)
 Finance & Commerce – Top Project Series
 NAIOP – Awards of Excellence
 MASLA – Excellence in Community Design Award
 SLUC – Great Places Finalist
The borrower was represented by CBRE’s Debt & Structured Finance group led by Doug Seylar, Murray Kornberg,
Scott Larson, and Ben Bastian. CBRE Capital Markets successfully secured the five year loan, at a sub-3.00%
floating interest rate, for MoZaic West through its relationship with Bremer Bank, N.A. (“Bremer”). “As our client
finalizes their planning for a new class A office building on the undeveloped portion of the site, this financing
allows for flexibility while increasing the existing properties’ cash flow” said Doug Seylar with CBRE Capital
Markets.
The principals of the Manager (of the borrowing entities) are also principals or senior executives of The Ackerberg
Group ("Ackerberg"). Ackerberg is a privately held organization of real estate related development, investment,
and management activities. Ackerberg is based in Minneapolis, Minnesota and has 50 years of experience in
designing, constructing, renovating, financing, and operating commercial and residential projects. Ackerberg has
developed, owned and/or renovated in excess of 4,000 apartments or condominium units and over 7 million SF
of retail, office and industrial property. Ackerberg has an intimate understanding of neighborhood trends,
commercial demand and market values. Ackerberg is a dynamic, agile, experienced, creative and knowledgeable
real estate group. Through their real estate investments and community involvement, Ackerberg has become the
premier Uptown real estate and neighborhood experts.
The Minneapolis-based team of Doug Seylar, Murray Kornberg, Joel Torborg, Ben Bastian and Scott Larson
focuses on loan origination and equity placement of all asset types. The Debt & Structured Finance (DSF) team
also helps provide investment and advisory services to meet the financing needs of real estate owners ranging from
private investors to large public entities. For more information regarding our lending and mortgage banking
services, please contact: Doug Seylar, Senior Vice President/Managing Director - CBRE Capital Markets, +1 612
336 4226; [email protected].
CBRE Press Release
About CBRE
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the
world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has
approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers
through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for
property sales and leasing; corporate services; property, facilities and project management; mortgage banking;
appraisal and valuation; development services; investment management; and research and consulting. Please visit
our website at www.cbre.com.
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