NorthMarq Capital’s Minneapolis office secures $20 million refinance of The Copham Apartments in Minneapolis, Minnesota
The Copham Apts
MINNEAPOLIS (February 12, 2018) – Patrick S. Minea, executive vice president/regional managing director of NorthMarq Capital’s Minneapolis office, negotiated refinancing of $20 million for The Copham Apartments, a 120-unit mixed-use property located in Minneapolis, Minnesota. The deal was structured by a 30-year loan on a 30-year amortization schedule, with two years interest only. NorthMarq arranged financing for the borrower through its relationship with Lincoln National Life Insurance Company. “The long-term fixed-rate deal was very attractive to the borrower because they plan to hold the asset long term,” said Minea.
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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.
