June 11, 2013

NorthMarq Capital's Michael Padilla arranged $2.4 million mortgage for Granite Peaks Apartments in Brooklyn Park, Minnesota

Granite Peaks Apts

Debt & Equity

Multi-Tenant

MINNEAPOLIS (June 11, 2013) – Michael Padilla, vice president of NorthMarq’s Minneapolis-based regional office, arranged first mortgage refinancing of $2.4 million for Granite Peaks Apartments, a 54-unit, market-rate multifamily property located at 3907 65th Avenue North in Brooklyn Park, Minnesota. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS Lender.

Available Multifamily properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.