NorthMarq Capital arranges $34.5 million refinance for 7west Apartments located in Minneapolis, Minnesota
7west Apts
MINNEAPOLIS (April 2, 2014) – Dan Trebil, senior vice president/senior director of NorthMarq Capital’s Minneapolis based regional office arranged the $34.5 million refinancing of 7west Apartments, a property consisting of 218-units located at 1800 Washington Avenue South, Minneapolis, Minnesota. The transaction was structured with a 15-year term and 30-year amortization following two years of interest only. Financing was arranged by NorthMarq for the borrower through its relationship with a correspondent life company. The borrower’s objective was to lock in a long-term interest rate as early as possible. This loan allowed them to achieve that goal early in their lease-up period and well in advance of fully stabilized occupancy.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
