Transamerica provides $62.6m loan for Twin City buy

Transamerica Life Insurance Company has provided an affiliate of North Dakota-based Sterling Real Estate Trust with $62.6m in financing for the acquisition of a 1,422-unit apartment portfolio in the Minneapolis-St. Paul metropolitan area of Minnesota — aka the Twin Cities. The loans back five of seven garden-level apartment buildings that the REIT bought for a reported $103.5m. […]