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