NorthMarq’s Minneapolis office arranges acquisition financing $1.6 million for multifamily property
Multifamily Property
MINNEAPOLIS, MINNESOTA (January 10, 2019) – Michael Padilla, vice president of NorthMarq’s Minneapolis regional office, arranged acquisition financing of $1.6 million for a 17-unit multifamily property located at 1122 Como Avenue SE in Minneapolis, Minnesota. The transaction was structured with 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Freddie Mac’s Small Balance Program.
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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.
