MINNEAPOLIS—Provident Real Estate Ventures, LLC has just gotten a $43.1 million senior loan from PCCP, LLC to renovate and reposition Mayo Clinic Square, a 217,354-square-foot mixed-use project in the heart of downtown Minneapolis at 600 Hennepin Ave. near 1st Ave. North.

The property was originally developed in 2001 as a mixed-use shopping and entertainment center, but earlier this year, Mayo Clinic decided to open a sports medicine facility in partnership with the Minnesota Timberwolves and Lynx Ownershipgroup. And Provident has begun an aggressive renovation to the exterior façade, interior atrium and skyway level entrance.

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