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.
– 10-year term
– 30-year amortization schedule
– NorthMarq arranged financing for the borrower through Freddie Mac’s Small Balance Program.
– 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.