Multifamily - Debt

NorthMarq’s Minneapolis office completes $9 million in acquisition financing for Radford Place Apartments in Dubuque, Iowa

MINNEAPOLIS, MINNESOTA (July 16, 2021) – Dan Trebil, senior vice president/managing director and Bill Mork, vice president of NorthMarq’s Minneapolis office secured acquisition financing of $9 million for Radford Place Apartments. The 108-unit/3-story multifamily property, built in 2010 is locatedin Dubuque, Iowa. The transaction was structured with a 10-year term with 2-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its status as a Freddie Mac Optigo lender. 

The property’s residents benefit from Dubuque’s nearby major attractions such as the National Mississippi River Museum and Aquarium and the Dubuque Arboretum and Botanical Gardens, as well as a plethora of casinos, restaurants, nearby high-ranking schools and universities and bars near the riverfront. Amenities include: Property manager on-site, 24-hour availability, washer/dryer in unit, air conditioning, heating, smoke free, tub/shower, sprinkler system, wheelchair accessible rooms, dishwasher, disposal, ice maker, microwave, oven, range, refrigerator, freezer, carpet, vinyl flooring and walk-in closets. 

“The buyer was able to secure an aggressively priced, full-leverage loan with partial interest only, even in a smaller market. Radford has a stable operating history and will be a great long-term asset for the buyer,” said Trebil.  

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.