Patrick Minea arranges $35 million refinance for Flux Apartments in Minneapolis, Minnesota

Flux Apts
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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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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