BizCap structured and secured $8.7 million in financing for 55th Crossing, a more than 300-acre residential real estate development located in Minot, ND. The 55th Crossing development will provide a variety of housing types, including affordable options for first-time buyers and low- to moderate-income families. The funding will be used to refinance existing debt on the development.
“BizCap went above and beyond the call of duty to get this deal done. They put in countless hours of work and negotiation to appease all parties involved in the transaction,” Nathan Smith, principal developer at 55th Crossing, said. “If it were not for the resourceful and well-connected team at BizCap, 55th Crossing would not have resulted in the successful project it has become. When other advisors shunned away from working in Minot, North Dakota, the team at BizCap stepped up and delivered.”
“We’re very pleased at the successful final financing arrangement we secured for the 55th Crossing development,” David Schubel, vice president at BizCap, said. “Nathan and his team have been working tirelessly to bring this much-needed project to light for the Minot community, and we couldn’t be happier to have played a role in its success.”
