NorthMarq Capital’s Minneapolis office arranges acquisition financing of $3.528 million for Bear Creek Apartments in Rochester, Minnesota
Bear Creek Apts
MINNEAPOLIS (August 25, 2016) – Michael Padilla, vice president of NorthMarq Capital’s Minneapolis-based regional office arranged acquisition financing of $3.528 million for Bear Creek Apartments, a 72-unit multifamily property located at 1405, 1455 and 1505 Marion Road SE, in Rochester, Minnesota. The transaction was structured with a 10-year term and 25-year amortization schedule following a two-year interest only period. NorthMarq arranged financing for the borrower through its relationship with a local bank.
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