Arranges $6.55 million refinancing of East River Apartments in St. Paul, Minnesota
East River Apts
MINNEAPOLIS (June 27, 2014) – Michael Padilla, vice president of NorthMarq Capital’s Minneapolis based regional office secured $6.55 million in refinancing for East River Apartments, a 44-unit multifamily property located at 2320 Marshall Avenue, St. Paul, Minnesota. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
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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.
