NorthMarq arranges acquisition financing for Carver Lake Retail Center in Woodbury, Minnesota

Carver Lake Retail Center

Debt & Equity

Multi-Tenant

MINNEAPOLIS, MINNESOTA (October 1, 2021) – Bill Mork, vice president of NorthMarq’s Minneapolis office, secured acquisition financing for Carver Lake Retail Center. The transaction was structured with a 10-year term on a 25-year amortization schedule.

“We are grateful that the buyer entrusted NorthMarq with their acquisition financing needs for this well located and well performing asset,” said Mork. “We secured long-term fixed rate financing in the 3%’s, with a flexible prepay schedule and full non-recourse. Our ability to secure these terms on this transaction is an example of lenders getting more competitive on retail product type. Many more lenders are jumping back into this space and we are excited for retail to get back to pre-COVID levels.”

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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.