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Apolis

Deal: Oak Ridge Apartments, 200 units

Oak Ridge Apartments

Sample

West End, St. Louis Park. This board's proof: the row that became the deal page. Entitlements are complete; invited investors are reading the preview while the raise fills.

Open the deal page

A sample deal in the live format. Notes, documents and changes are sample records.

Stage
Raising
Rezone
Gate due
Jan 2027
Equity raise closes with land and the construction loan, Sponsor
Days in stage
26
Updated Nov 6
Units
200
Ground-up
Total cost · estimated
$52.2M

Timeline

Rezone, 23 months from site control to close. Current phase: Financing and closing.

  1. 1. Site control3 mo

    Complete
    Gate
    Purchase agreement executed with entitlement contingency
    Owner
    Counsel

  2. 2. Feasibility2 mo

    Complete
    Gate
    Untrended yield on cost clears the screen at the proposed count
    Owner
    Sponsor

  3. 3. Neighborhood and city pre-application2 mo

    Complete
    Gate
    Staff report favorable
    Owner
    Sponsor

  4. 4. Rezoning and site plan6 mo

    Complete
    Gate
    Council approval recorded
    Owner
    City

  5. 5. Appeal period1 mo

    Complete
    Gate
    Expired without challenge
    Owner
    Counsel

  6. 6. Design to permit set4 mo

    Complete
    Gate
    Building permit application filed
    Owner
    Architect

  7. 7. Permitting3 mo

    Complete
    Gate
    Building permit issued
    Owner
    City

  8. 8. Financing and closing2 mo

    Current phase
    Gate
    Loan and equity close the same day as land
    Owner
    Sponsor

Today's zoning does not carry the count. The public path governs the clock. Months are the phase's illustrative default.

Tasks for Raising

2 of 7 closed. Stage entered Oct 12. Sample team.

  • Loan request packageDue Oct 26

    Capital

  • GC award and GMP contractOverdue 2 days, due Nov 5Forecast Nov 19, 14 days past plan

    Construction managerGates the stage

  • Loan commitmentDue Dec 2Forecast Dec 23, 21 days past plan

    CapitalGates the stage

  • Signed term sheetDone Oct 11, planned Oct 8

    CapitalGates the stage

  • Equity raise committedDue Jan 4

    CapitalGates the stage

  • AppraisalDue Dec 11

    Analyst

  • Closing checklist completeDue Jan 6Forecast Jan 20, 14 days past plan

    LegalGates the stage

Gate review: leaving Raising

1 of 2 partners have decided. Moving forward without approval shows a warning. Sample partners. Decisions are never edited; a change is a new entry.

  • Sample Dana OrtizGoOct 20, 15:00 UTC

    Go, subject to the GMP landing inside the budget contingency.

  • Sample Marcus LeePendingNot yet decided
Decision log (1)
  1. Oct 20, 15:00 UTC: Sample Dana Ortiz, go. Go, subject to the GMP landing inside the budget contingency.

Record decision

Sample Dana Ortiz recorded go for this review. It stands until the deal re-enters Raising.

Name
Oak Ridge Apartments
Stage
Raising
Units
200
Strategy
Ground-up
Zoning path
Rezone
Estimated total development cost
$52,189,000
Waiting on
Equity raise closes with land and the construction loan
Gate due
Jan 2027
Gate owner
Sponsor
Days in stage
26
Note
This board's proof: the row that became the deal page. Entitlements are complete; invited investors are reading the preview while the raise fills.
Working surface
Open the deal page
Location
West End, St. Louis Park (neighborhood centroid 44.969, -93.351)