NorthMarq Capital’s Denver office arranges $10.3 million in permanent financing for Heritage Village Apartments in Sartell, Minnesota
DENVER (November 4, 2016) – Greg Benjamin, senior vice president and Chris Bailey, investment analyst of NorthMarq Capital’s Denver office collaborated with Pat Minea, managing director and Brandon Geis, investment analyst of the NorthMarq Capital’s Minneapolis office to arrange permanent financing of $10.3 million for Heritage Village Apartments, a multifamily property located at 1531-1535 7th Avenue South in Sartell, Minnesota. Constructed in 2007, the property consists of 138 residential units contained in two, three-story buildings. Each building has a parking garage as well as community, fitness and game rooms. There are also kitchenettes and mail areas. All the units have full appliance packages inclusive of washers/dryers. NorthMarq arranged financing for the borrower, a division of Weidner Apartments Homes, a Seattle-based, privately-held owner of multiple multifamily properties. Ben Katon, vice president of finance and acquisitions and Kevin Colard, director of acquisitions represented Weidner in the transaction.
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.
