Multifamily
Debt & Equity

NorthMarq’s Minneapolis office arranges $12,565,000 construction loan for Backlot Apartments in Kissimmee, Florida

MINNEAPOLIS, MINNESOTA (February 9, 2021) – Michael Padilla, vice president and Dan Trebil, senior vice president/managing director of NorthMarq’s Minneapolis office, collaborated to secure a construction loan of $12,565,000 for Backlot Apartments. The 296-unit multifamily property is located in Kissimmee, Florida. The transaction was structured with a 10-year interest-only term. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a CMBS lender.

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.

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Backlot Apts
Permanent Loan - Fixed
$12,565,000