NorthMarq’s Minneapolis office finalizes $2.05 million refinance of 623 Lofts in Saint Paul, Minnesota
623 Lofts
MINNEAPOLIS, MINNESOTA (September 25, 2019) – Michael Padilla arranged the $2.05 million refinance of 623 Lofts, a 17-unit multifamily property located in Saint Paul, Minnesota.
Financing Details:
- 10-year term
- 30-year amortization schedule
- NorthMarq arranged financing for the borrower through Freddie Mac’s Small Balance Program.
Property Details:
- The property enjoys close proximity to three colleges (Saint Paul College, Concordia University-Saint Paul and Macalaster College), the Target Field Commuter Rail Station, numerous shopping centers within less than a mile and multiple parks and museums. The property is only nine miles (17 minute drive time) from the Minneapolis-Saint Paul International Airport.
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About Northmarq
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.
