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.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.