Multifamily - Debt

NorthMarq Capital

NorthMarq's Minneapolis office arranged $4 million mortgage for Ballantrae Apartments in Eagan, Minnesota

MINNEAPOLIS (August 21, 2013) – Daniel Trebil and Patrick S. Minea of NorthMarq’s Minneapolis-based regional office, arranged first mortgage refinancing of $4 million for Ballantrae Apartments, a 204-unit, market-rate multifamily property located at 3800 Ballantrae Road in Eagan, Minnesota. Financing was based on a 10-year term and a 10-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.