Multifamily - Debt

NorthMarq Capital arranged $3.75 million mortgage for Willow Court and Chateau de France in Bloomington, Minnesota

MINNEAPOLIS (February 25, 2013) – Brian Hennen, vice president of NorthMarq’s Minneapolis-based regional office, arranged first mortgage refinancing of $3.75 million for Willow Court and Chateau de France located in Bloomington, Minnesota. Willow Court is a 37-unit Market-rate multifamily property that was built in 1965. Chateau de France is an 83-unit market-rate multifamily property that was built in 1970. These properties are located at the intersection of France Avenue and Old Shakopee Road. Financing was based on a 10-year term and a 30 year amortization schedule. NorthMarq arranged this financing for the borrower, Orest Associates, LLC, through its seller-servicer relationship with Freddie Mac.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.