Multifamily - Debt

NorthMarq Capital arranges $34.5 million refinance for 7west Apartments located in Minneapolis, Minnesota

MINNEAPOLIS (April 2, 2014) – Dan Trebil, senior vice president/senior director of NorthMarq Capital’s Minneapolis based regional office arranged the $34.5 million refinancing of 7west Apartments, a property consisting of 218-units located at 1800 Washington Avenue South, Minneapolis, Minnesota. The transaction was structured with a 15-year term and 30-year amortization following two years of interest only. Financing was arranged by NorthMarq for the borrower through its relationship with a correspondent life company. The borrower’s objective was to lock in a long-term interest rate as early as possible. This loan allowed them to achieve that goal early in their lease-up period and well in advance of fully stabilized occupancy.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.