Wartburg’s Friedrichs Affordable Senior Housing receives Community Involvement Grant, courtesy of NorthMarq’s White Plains office

MINNEAPOLIS, MINNESOTA (November 24, 2020) – As part of NorthMarq’s annual Community Involvement Grant program, Wartburg’s Friedrichs Affordable Senior Housing program received one of the 18 grants awarded in 2020. Wartburg, nominated by Robert Ranieri, NorthMarq’s White Plains’ Managing Director and Wartburg’s Board Chairman, has received a grant each of the three program years.

“This community involvement grant has meant so much to Wartburg, and its mission to provide affordable housing to senior citizens in this area. The funds are targeted for social programs at the housing complex designed for seniors such as exercise classes, transportation to local events, shopping excursions, and music classes. Since the Grants have been provided, they have been able to offer more programs and services to these low-income senior residents,” said Ranieri.

In 2018, NorthMarq created a Community fund to support organizations that focus on improving access to affordable housing or eradicating homelessness in the markets where the company operates. This initiative aligns with the Pohlad Companies’, NorthMarq’s parent company, and the Pohlad Foundation’s focus on these areas of community need.

Robert Ranieri presented the check to Wartburg CEO Dr. David J. Genter.

“We are honored to receive this donation from NorthMarq. It will help us to continue our work on wellness and issues of loneliness and isolation,” said Dr. David J. Gentner, Wartburg’s President and CEO. “The COVID-19 pandemic has changed how we interact with the people we most care about, particularly if you are in the 65-plus age group.”
“While social distancing and self-quarantine limits the exposure to infection, it also limits social interactions and increases loneliness and feelings of isolation. The result can be a real health concern. Even before the pandemic, many adults over 65 were socially isolated,” according to Gentner.

Friedrichs opened on Wartburg’s 34-acre campus in 2013, offering beautiful studio and one-bedroom handicap-accessible apartments for the 62+ community of active seniors. Residents have access to amenities such as a sunlit multipurpose community room, a state-of-the-art fitness room, a library, laundry on each floor, and free assigned parking. The first-ever Leadership in Energy & Environmental Design certified building in Mount Vernon, Friedrichs boasts bamboo floors and individually thermostatic heating and air-conditioned units.

“I am proud that NorthMarq recognizes the importance of supporting non-profits that help support affordable housing, and I am personally pleased that Wartburg was a well-deserved recipient of these funds that will help the residents of Friedrichs,” said Ranieri.

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.