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BizCap Facilitates $8.7MM Financing for 55th Crossing

April 12, 2022, 07:33 AM
Filed Under: Real Estate

BizCap successfully structured and secured $8.7 million in financing for 55th Crossing, a 300+ acre residential real estate development located in Minot, North Dakota. 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,” said Nathan Smith, principal developer at 55th Crossing. “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,” he added.

“We’re very pleased at the successful final financing arrangement we secured for the 55th Crossing development,” said David Schubel, vice president at BizCap. “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.”

BizCap also recently announced several successful financing arrangements for its clients AvAir ($60 million), a global leader in aftermarket aviation parts, and Pacific Recycling, in addition to announcing two new office locations in Dallas and Tampa.

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