NorthMarq’s Minneapolis office arranges acquisition financing $1.6 million for multifamily property

Multifamily Property
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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.

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.