Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Minneapolis office secures $20 million refinance of The Copham Apartments in Minneapolis, Minnesota

MINNEAPOLIS (February 12, 2018) – Patrick S. Minea, executive vice president/regional managing director of NorthMarq Capital’s Minneapolis office, negotiated refinancing of $20 million for The Copham Apartments, a 120-unit mixed-use property located in Minneapolis, Minnesota. The deal was structured by a 30-year loan on a 30-year amortization schedule, with two years interest only. NorthMarq arranged financing for the borrower through its relationship with Lincoln National Life Insurance Company. “The long-term fixed-rate deal was very attractive to the borrower because they plan to hold the asset long term,” said Minea.

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.