VOLUME 30, NUMBER 4
Š2014 Law Bulletin Publishing Co.
April 2014
In Memory
Gerry Rauenhorst, founder of Minneapolis’ The Opus Group, passes away W
Gerry Rauenhorst and his wife, Henrietta, who preceded him in death.
hen Tim Murnane first began working at Minnetonka-based The Opus Group in 1984, he didn't have to look far to find a pro on which to model his own commercial real estate career. Gerry Rauenhorst, the founder of Minneapolis-based The Opus Group, was right there, after all. "I've had a chance to be part of the Opus family for a long period of time. Gerry was always the best role model any of us could have," Murnane said. "He was a unique individual. He had the benefit of a construction background and he was an extremely talented developer. He was very entrepreneurial. You couldn't have asked for a better role model in the commercial real estate business." Murnane is far from alone. Members of the commercial real estate industry in and around the Twin Cities remember Rauenhorst, who passed away on April 24 at the age of 86, as a leader not just in his profession but in his community, too. Rauenhorst spent countless hours, working for charitable and professional organizations, helping to make the Twin Cities a better place. "Gerry was passionate about his communities," Murnane said. "He was always giving back to the communities in which he did business. It was something that set the culture for his company." As an example, Murnane pointed to April 25. That day is Founder's Day at Opus, in memory of the day on which Rauenhorst back in 1953 signed his first real estate contract. During this day, Opus employees perform volunteer work. On April 25, workers spent their time tackling construction projects for Habitat for Humanity. "It's our way of giving back to the community. And it's something that Gerry really emphasized when he built Opus," Murnane said. Rauenhorst, in addition to his charitable work, long had the entrepreneurial spirit, too, forming his own real estate business, which eventually became Opus, in 1953. The breezeway of his home served as the company's first headquarters. From these small beginnings, The Opus Group has grown into a family of commercial real estate development, construction and design comRauenhorst to page 20
BankFinancial ready to become key player in Twin Cities’ apartment market By Dan Rafter, Staff Writer
T
he Twin Cities' apartment market is a strong one, with investors targeting the downtown hearts of St. Paul and Minneapolis for a variety of new multi-family real estate investments. The challenge for many investors? Financing. Fortunately, investors in the Twin Cities have another option for financing: BankFinancial.
Bryan Haines, Vice President of Apartment Lending for BankFinancial, told Minnesota Real Estate Journal that his company is now ramping up its apartment lending in the Twin Cities. This means that investors have another real choice as they search for the dollars they need to purchase new buildings or refinance existing properties. "BankFinancial has been doing apartment lending in Minnesota out of our Chicago office for seven years," Haines said. "I've been hired to be on the ground here in Minneapolis. We now have a physical
presence in the Twin Cities. I've lived here my entire life. I've worked for banks in the Twin Cities for the last 16 years. I know this market, and I'm eager to make an impact in it." Haines began working with BankFinancial in late 2013. Since then, he's steadily built the relationships that he says will help his company make its mark in the Twin Cities' apartment market. Haines points to a recent Minnesota Wild hockey BankFinancial to page 22