April 8, 2013

Michael Padilla arranged $2.275 million mortgage for Parkway Plaza in Minneapolis, Minneapolis

Parkway Plaza

Debt & Equity

Multi-Tenant

MINNEAPOLIS (April 8, 2013) – Michael Padilla, vice president of NorthMarq’s Minneapolis regional office, arranged first mortgage refinancing of $2.275 million for Parkway Plaza, a 37,426 sq. ft. retail property located at 4701 Hiawatha Avenue in Minneapolis, Minnesota. Pet Supplies Plus is the major tenant at the site. Financing was based on a 10-year term and a 20-year amortization schedule and was arranged for the borrower, Hiawatha Plaza Associates, by NorthMarq through its relationship with a correspondent life company lender.

Available Retail (MT) 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.