O'Brien-Staley Partners Completes $61 Million Refinancing for Excelsior Crossings

O'Brien-Staley Partners (OSP) has successfully completed a $61 million refinancing for Excelsior Crossings, two Class A office buildings in Hopkins, MN. The deal was in partnership with Dry Creek Capital Partners.

The Excelsior Crossings properties consist of 519,228 net rentable square feet (NRSF) and offer amenities such as LEED Gold certification, a coffee shop, cafeteria, fitness center, and common areas. The buildings show strong performance with a 98% occupancy rate. A money center bank and four corporate tenants occupy the spaces.

OSP's strategy emphasizes credit quality over location, a shift driven by current market conditions. Kari Johnson, Managing Director at OSP, highlighted their extensive due diligence and their confidence in the investment.

Legal representation for OSP was provided by Alison Bure of Faegre Drinker Biddle & Reath LLP.