January 7, 2015

NorthMarq Capital’s Minneapolis based office arranges refinancing of $18.375 million for Marquee Place in Wayzata, Minnesota

Marquee Place

Debt & Equity

Multi-Tenant

MINNEAPOLIS (January 5, 2015) – Jon M. Miller, vice president of NorthMarq Capital’s Minneapolis based regional office arranged the $18.375 million refinance of Marquee Place, a 72,000 sq.ft. retail/office property located at 641-681 Lake Street East in Wayzata, Minnesota. The transaction was structured with a 12-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “Marquee Place is a trophy asset just west of Minneapolis, on Lake Minnetonka,” said Miller. “The mixed-use property commands some of the highest office rents in Minnesota due to unobstructed lake views and strong micro-market fundamentals. The lender understood the value of this unique asset and was a great fit for my borrower client.”

Available Mixed Use 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.