Michael Padilla arranged $2.275 million mortgage for Parkway Plaza in Minneapolis, Minneapolis
Parkway Plaza
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.
Meet our team
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.
