Northmarq arranges acquisition financing of $9,440,000 million for Depot on Main Apartments in Zimmerman, Minnesota
MINNEAPOLIS, MINNESOTA (March 31, 2022) – Northmarq’s Minneapolis office has secured $9.44 million in acquisition financing for Depot on Main Apartments, a 65-unit, garden-style apartment community in Zimmerman, Minnesota. The transaction was structured with a 10-year term on a 30-year amortization schedule after 5 years interest only, and was arranged through Northmarq’ relationship with Freddie Mac.
Constructed in 2019, the property features one-, two- and three-bedroom units. Community amenities include: fitness center, heated underground parking, resident lounge and community room. Apartment amenities include: in-unit washer and dryer, stainless steel appliances, spacious closets and some units have balconies/patios.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
