Northmarq’s Minneapolis office completes $41.61 million financing of student housing property in Mankato, Minnesota
The Grove at Mankato
MINNEAPOLIS, MINNESOTA (August 3, 2022) – Andy Finn, senior vice president in Northmarq’s Minneapolis-based debt/equity office, arranged for $41.61 million in financing for The Grove at Mankato. The 524-unit student housing property is located at 200 Briargate Road in Mankato, Minnesota. The transaction was structured on a non-recourse basis with a 7-year term with 3-years of interest only followed by a 30-year amortization schedule. Northmarq secured the permanent-fixed loan for the borrower through its relationship with a credit union.
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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.
