Northmarq completes $14,620,000 acquisition financing on three properties for Capital Partners
MINNEAPOLIS, MINNESOTA (February 8, 2022) – Bill Mork, vice president of Northmarq’s Minneapolis office secured acquisition financing totaling $14,617,000 for three office/warehouse properties located in the Golden Triangle district of Eden Prairie, Minnesota. The two separate permanent-fixed loans were arranged for the Buyer, Edina-based Capital Partners. Capital Partners enjoys a growing presence in the Twin Cities’ industrial market, with over 10 million SF under ownership.
Douglas and Aludec Buildings: The two office/warehouse properties consist of a combined 118,735 sq. ft. and are located at 9650 Valley View Road and 7180 Washington Avenue South in Eden Prairie, Minnesota. Northmarq arranged acquisition financing of $7,650,000 for the two properties. The permanent-fixed loan was secured for the Borrower through the company’s relationship with a regional bank.
“We were able to negotiate the best combination of rate, interest-only payments and recourse with no escrow for the upcoming lease expirations. This was a very competitive deal and will be a great addition to Capital Partners portfolio,” noted Mork.
Suddath & Truck Fleet Buildings: The two office/warehouse buildings contain a combined 112,297 sq. ft. and are located at 7100 – 7140 Washington Avenue South in Eden Prairie, Minnesota. Northmarq arranged acquisition financing of $6,970,000 for the two buildings. The permanent-fixed loan was secured for the Borrower through Northmarq’s relationship with a regional bank.
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.
