NorthMarq Capital’s Minneapolis office secures $31.3 million refinance of Victoria Park II Apartments in St. Paul, Minnesota
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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