Newmark Completes Sale and Financing of Two-Property Student Housing Portfolio in Minneapolis

July 9, 2025 9:00 AM

Newmark announces the company has arranged the sale and $36 million financing of a two-property student housing portfolio serving the University of Minnesota in Minneapolis. The portfolio includes The Bridges Dinkytown, a 210-unit property at 930 University Ave SE, and The Knoll Dinkytown, a 101-unit property at 1101 University Ave SE.

Newmark Multifamily Capital Markets Executive Vice Chairman and Head of Student Housing Ryan Lang, Managing Director Jack Brett and Director Ben Harkrider, in cooperation with Vice Chairman Jim Damiani, represented the undisclosed seller. Executive Managing Director Ben Roelke, Senior Managing Director Ian Walker and Director Trent Houchin secured the debt financing from Corebridge Financial on behalf of buyer WFI.

“We continue to see deep liquidity in the Student Housing debt markets, especially for opportunities featuring a combination of excellent sponsorship, favorable market fundamentals and solid underlying real estate like this one,” said Walker.

WFI will implement a $1.55 million capital improvement program focused on enhancing common areas and repositioning both properties as amenity-rich communities – aligning them with newer assets in the market and elevating the student living experience.

Both properties already feature spacious, fully furnished apartments, ranging from studios to four-bedroom layouts, with private bedrooms and bathrooms, high-end finishes and a suite of community amenities.

“Ben, Ian and Trent uncovered best-in-market debt terms by cultivating an extremely competitive environment with life companies, banks, debt funds and agencies all bidding for the opportunity,” said Bill Fideli, Founder and President of WFI. “Their guidance throughout the entire lifecycle of the transaction was invaluable from initial bid through a smooth closing.”

Situated in the heart of Dinkytown, Minneapolis’ most walkable and sought-after neighborhood for students, the properties offer prime access to campus and a wide array of student-oriented retail including Target, Qdoba and Raising Cane’s. They are also served by three university bus lines, connecting students to campus and Downtown/West Bank area.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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