NorthMarq Capital’s Minneapolis office secures $31.3 million refinance of Victoria Park II Apartments in St. Paul, Minnesota
Victoria Park II Apts
MINNEAPOLIS (November 2, 2017) – Michael Padilla, vice president of NorthMarq Capital’s Minneapolis regional office, arranged the $31.3 million refinance of Victoria Park II Apartments, a 197-unit multifamily property located in St. Paul, Minnesota. The transaction was structured with a 13-year term with three-years of interest-only on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
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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.
