NorthMarq’s Minneapolis office finalizes $2.05 million refinance of 623 Lofts in Saint Paul, Minnesota
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.
Meet our team
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.
