Northmarq arranges acquisition financing of $11,840,000 for University Crossing in St. Paul’s Midway District

University Crossing

Debt & Equity

Multi-Tenant

MINNEAPOLIS, MINNESOTA (February 8, 2022) – Bill Mork, Vice President of Northmarq’s Minneapolis office, negotiated $11.84 million in acquisition financing for University Crossing. The 84,150 sq. ft. medical office building is located at 2200 University Avenue West in St. Paul, Minnesota. CBRE represented Essjay Investments, who sold the property to Capital Partners LLP. The transaction was structured with a 10-year term on a 25-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through its relationship with a commercial bank.

“In a challenging office lending market, we were able to meet the client’s needs for high leverage acquisition financing with future funding for TI/LCs,” said Mork. “We sourced bank, bridge, and life company quotes for this acquisition and our banking relationship offered the most attractive terms – including a three percent interest rate and two years of interest only.”

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.