Patrick Minea arranges $35 million refinance for Flux Apartments in Minneapolis, Minnesota
Flux Apts
MINNEAPOLIS (June 25, 2014) – Patrick Minea, senior vice president/managing director of NorthMarq Capital’s Minneapolis based regional office arranged the $35 million refinance of Flux Apartments, a 216-unit multifamily property located at 2838 Fremont Avenue South, Minneapolis, Minnesota. NorthMarq arranged financing for the borrower, AFL-CIO Building Investment Trust (BIT) through its correspondent relationship with Allianz Life Insurance Company of North America. “Northmarq is proud to have worked with BIT and Allianz Real Estate on behalf of Allianz Life on the financing of this Class “A” Apartment in the Uptown area of Minneapolis. The original development by BIT/Greco was visionary and in a class of its own, this community will be a great investment for years to come,” said Minea.
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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.
