Northmarq completes $8.4 million refinance of Linden Flats in Minneapolis, Minnesota

MINNEAPOLIS, MINNESOTA (June 27, 2022) – Andy Finn, vice president of Northmarq’s Minneapolis office, arranged the $8.4 million refinance of Linden Flats. The 41-unit multifamily property (built in 2020) is located at 4418 Beard Avenue in Minneapolis, Minnesota. The transaction was structured with a fully-amortizing 35-year term. Northmarq secured the permanent-fixed loan for the borrower through its inhouse FHA/HUD team. 

The property is located in the center of the popular Linden Hills neighborhood. The location allows for access to all the amenities of urban life, including numerous restaurants, retail opportunities and entertainment venues. Three institutions of higher learning (Minneapolis Community and Technical College, North Central University and Augsburg College) are within seven miles of the property, as well as three shopping centers within one mile. An abundance of parks is within close proximity to the property. 

Apartment amenities include: In-unit washer/dryer, air conditioning, dishwasher, high-speed internet access, hardwood floors, granite countertops, microwave and refrigerator.  Community amenities include: Package service, controlled access, furnished units available, online services, pet washing station, key fob entry, elevator, lounge, fitness center and spa.