NorthMarq Capital’s Minneapolis based office arranges acquisition financing of $1.84 million for Fargo Express in Fargo, North Dakota
Fargo Express
MINNEAPOLIS (January 20, 2015) – Michael Padilla, vice president of NorthMarq Capital’s Minneapolis based office secured acquisition financing of $1.84 million for Fargo Express, a 34,226 sq.ft. retail property located at 1411 South University Drive in Fargo, North Dakota. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The lender’s small balance CMBS offering was the perfect execution for the borrower and the asset,” said Padilla. “The borrower was looking for full leverage, non-recourse, long term fixed rate product on a grocery anchored center in Fargo, North Dakota. The deal featured fixed costs and a great rate. The lender delivered on all levels.”
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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.
