Northmarq’s Debt + Equity team arranges acquisition financing of Stonebridge Villas & Townhomes in Minot, ND
MINOT, N.D. — Northmarq’s Salt Lake City Debt + Equity team led by Ben Vroman, Nate Barnson, Bracken Ostler and Jeremy Dawson successfully arranged the acquisition financing of Stonebridge Villas & Townhomes, a 202-unit multifamily community located at 3241 8th St in Minot, North Dakota.
Northmarq arranged permanent-fixed financing on behalf of the borrower, Parkwest Real Estate, through Freddie Mac. The transaction was structured on a five-year term.
“This transaction showcases how quality housing in stable, under-the-radar markets continues to draw strong lender interest,” Vroman said. “Even in today’s rate environment, partnering with Freddie Mac allowed us to deliver the right structure and favorable terms for our sponsor’s entry into the Minot market.”
Built in 2014, Stonebridge Villas & Townhomes offers both villa-style apartments and spacious townhomes. The community features one-, two-, and three-bedroom floorplans with private entrances, washer/dryer, high ceilings, walk-in closets, oversized garages, extra storage, efficient appliances, and a patio or balcony.
Community amenities include on-site management, snow removal and lawn care, off-street parking, short term leases, high-speed internet and a pet-friendly environment.
Stonebridge Villas & Townhomes are conveniently located near N Broadway and 36th Ave NE, just a short drive from the Dakota Square Mall, the Dakota Territory Air Museum, food, shopping and Minot International Airport.
