Retail (MT)
Debt & Equity

NorthMarq Capital’s Minneapolis based office arranges acquisition financing of $1.84 million for Fargo Express in Fargo, North Dakota

MINNEAPOLIS (January 20, 2015) – Michael Padilla, vice president of NorthMarq Capital’s Minneapolis based office secured acquisition financing of $1.84 million for Fargo Express, a 34,226 sq.ft. retail property located at 1411 South University Drive in Fargo, North Dakota. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The lender’s small balance CMBS offering was the perfect execution for the borrower and the asset,” said Padilla. “The borrower was looking for full leverage, non-recourse, long term fixed rate product on a grocery anchored center in Fargo, North Dakota. The deal featured fixed costs and a great rate. The lender delivered on all levels.”

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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Fargo Express
Debt
$1,840,000