Retail - Debt

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

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.