Multifamily - Debt

Arranges $6.55 million refinancing of East River Apartments in St. Paul, Minnesota

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.

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