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