Industrial

NorthMarq Capital’s Minneapolis office closes $12 million refinance of Red Rock Business Park in Maple Grove, Minnesota

MINNEAPOLIS (August 8, 2017) Patrick Minea, executive vice president/ regional director of NorthMarq Capital’s Minneapolis regional office, negotiated refinancing of $12,000,000 for Red Rock Business Park, a 319,062 sq. ft. industrial property located in Maple Grove, Minnesota. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.

“This transaction was financed on a permanent basis after a successful partnership of HIMCO and United Properties,” said Minea.

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.