Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Minneapolis office negotiates $4.15 million refinance of multifamily property in Rochester, Minnesota

MINNEAPOLIS (February 23, 2018) – Michael Padilla, vice president of NorthMarq’s Minneapolis regional office, arranged the $4.15 million refinance of Creekside Apartments, a 72-unit multifamily property located in Rochester, Minnesota. The transaction was structured with a 7-year term with 1-year of interest only followed by a 30-year amortization schedule.

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.