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.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.