NorthMarq refinances $1.58 million retail property in Brooklyn Park, Minnesota
4 Wheel Parts
MINNEAPOLIS, MINNESOTA (March 22, 2021) – Michael Padilla, vice president of NorthMarq’s Minneapolis office secured the $1,580,000 acquisition of 4 Wheel Parts. The retail property has 12,000 rentable sq. ft. and is located on 6771 Boone Avenue North, Brooklyn Park, Minnesota. 4 Wheel Parts located in a very traffic-heavy area near the intersection of two major highways in Minnesota.
The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a credit union.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
