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MIDTOWN EXCHANGE | CHICAGO LOFTS <br />Minneapolis, MNProject Details <br />In 2004, a collaboration between developers Sherman " Historic Rehabilitation and Mixed-Use Conversion <br />Associates and Ryan Companies transformed the " 41 Market-rate Apartments <br />mammoth 1.2 million square-foot historic Sears, " 178 Affordable Apartments <br />Roebuck building in South Minneapolis into a mixed-" 88 Condominiums <br />use masterpiece featuring 88 loft and penthouse condo " Project Value: $77 Million <br />units, 219 rental units (including affordable units), the " Financing: Federal Low Income Housing Tax <br />headquarters of Allina Health Systems and a global Credits, US Bank first mortgage (Housing Revenue <br />food market. The Global Market features a variety of Bonds), Minnesota Housing Finance Agency, City <br />small businesses started by local entrepreneurs.of Minneapolis, Hennepin County,Tax Increment, <br />Metropolitan Council <br />Midtown Exchange was designed, developed and <br />financed in record time spanning only six months initial Role: Co-Developer, General Partner, Property <br />inception to the beginning of construction. Sherman Manager <br />Associates took the lead on the development of the <br />condominiums and apartments at Midtown Exchange, Completed: December 2005 <br />which remains one of Sherman Associates most <br />celebrated projects earning continued awards and Awards and Recognition: <br />recognition from both local and national sources." 2010 Property Excellence Award by Minnesota <br />Multi Housing Association <br />" 2009 Best of the Decade by Minneapolis/St. Paul <br />Business Journal <br />" 2007 Affordable Housing Finance Magazine: Best <br />Historic Rehabilitation <br />" 2006 National Trust/HUD Secretarys Award for <br />Excellence in Historic Preservation <br />" 2005 Best in American Living by Professional <br />Builder Magazine <br />" 2004 Best in Real Estate: Best Overall by <br />Minneapolis/St. Paul Business Journal <br />COMPANY PROFILE: Development Experience <br /> <br />