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