Multifamily - Debt

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.