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MINNETONKA, MN-Minneapolis Gift Mart, a 227,458-sf building in this western suburb of Minneapolis, has landed $10.5 million in permanent financing in a deal arranged by LJ Melody & Co.’s Minneapolis office.

The Minneapolis Gift Mart in Minnetonka has 128 tenants and is one of only 15 regional gift marts in the US. Bruce Meland of L. J. Melody & Co.’s Minneapolis office secured the funding on behalf of JLT Group, a St. Paul-based commercial real estate firm.

Houston-based LJ Melody, a CB Richard Ellis company, is one of the largest real estate investment banking firms in the US. Over the past two years, the firm arranged $16 billion in commercial real estate transactions nationwide. The company operates offices in 30 major metropolitan markets. Through its limited partnership affiliate, GEMSA Loan Services, LP, it maintains a loan servicing portfolio with nearly 8,000 loans totaling $59 billion.

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