NorthMarq Capital arranges $34.5 million refinance for 7west Apartments located in Minneapolis, Minnesota
7west Apts
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.
Meet our team
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.
