CBRE arranged $49.6 million in financing on behalf of Wildamere Properties for the purchase of Plymouth Corporate Center.
The real estate firm leveraged its relationship with GE Real Estate to secure the four-year loan of $45 million from General Electric Capital Corp. The lender will also give Minnetonka-based Wildamere, and its undisclosed joint-venture partner, an additional $4.6 million for capital improvements.
Wayzata-based TCF Financial Corp. is relocating all of its more than 1,100 employees from downtown Minneapolis to the Plymouth Corporate Center on the I-394 corridor following a significant renovation to the two-story surburban office park.
Carlson Real Estate sold the 628,000-square-foot office center for $62.5 million on April 10.