MINNEAPOLIS, MINNESOTA (October 12, 2022) – Bill Mork, vice president in Northmarq’s Minneapolis debt/equity office, secured the $5,800,000 refinancing of The Lights – South. The 36-unit/6-floor class A multifamily property (built in 2020) is located at 3100 Sheyenne Street in West Fargo, North Dakota. The transaction was structured with a fully-amortizing 35-year term. Northmarq negotiated financing for the borrower, EPIC Companies, through its in-house FHA/HUD team.
The property is part of the larger The Lights mixed-use commercial, residential, and active life space that will house 20+ businesses and nearly 300 units. The location features a City of West Fargo owned transformable plaza that hosts concerts, outdoor events, dining, shopping, and entertainment. Other components include a parking garage, apartments and commercial spaces. Current buildings at The Lights include EPIC and ECHO. Future buildings include ENVY, currently in construction, and EDGE, in development.
“Our team had the pleasure of working with Northmarq on a refinancing project in West Fargo. Their team was professional, easy to work with, and we were able to close the deal smoothly,” said Amy Hass, EPIC Companies—CEO.”
Apartment amenities include: Air conditioning, ceiling fans, hardwood flooring, microwave, patio, some paid utilities, view, balcony, deck, internet included, new/renovated interior, refrigerator, stainless steel appliances, washer/dryer in unit, cable ready, elevator, island kitchens, oversized closets, smoke free, and vaulted ceilings. Community amenities include: Credit card payment accepted, controlled access, high-speed internet access, on site management, electronic payments accepted, extra storage, laundry facility, pet parkbusiness center, fitness center, and immediate access to biking/hiking/jogging trails.