Northmarq arranges acquisition financing of $9,440,000 million for Depot on Main Apartments in Zimmerman, Minnesota
Depot on Main Apts
MINNEAPOLIS, MINNESOTA (March 31, 2022) – Northmarq’s Minneapolis office has secured $9.44 million in acquisition financing for Depot on Main Apartments, a 65-unit, garden-style apartment community in Zimmerman, Minnesota. The transaction was structured with a 10-year term on a 30-year amortization schedule after 5 years interest only, and was arranged through Northmarq’ relationship with Freddie Mac.
Constructed in 2019, the property features one-, two- and three-bedroom units. Community amenities include: fitness center, heated underground parking, resident lounge and community room. Apartment amenities include: in-unit washer and dryer, stainless steel appliances, spacious closets and some units have balconies/patios.
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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.
