Multifamily

NorthMarq Capital arranged $8.5 million mortgage for Colony Apartment Homes in Richfield, Minnesota

MINNEAPOLIS (April 24, 2013) – Brian Hennen, vice president of NorthMarq’s Minneapolis regional office, arranged first mortgage refinancing of $8.5 million for Colony Apartment Homes, a 212-unit, market-rate multifamily property located at 1740 West 76th Street in Richfield, Minnesota. Financing was based on interest only payments for the entire term of the loan. NorthMarq arranged this financing for the borrower through its seller-servicer relationship with Freddie Mac.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.