Northmarq’s Minneapolis office secures $6.875 million refinance of 154-unit multifamily property in St. Paul, MN
MINNEAPOLIS (May 7, 2024) — Daniel Trebil, executive vice president and regional managing director of Northmarq’s Minneapolis Debt + Equity team, has successfully arranged the refinance of Woodstone Apartments, a 154-unit multifamily property located at 2335 Stewart Ave. in St. Paul, Minn. Built in 1984, the low-rise property offers one- and two-bedroom apartment homes just minutes from downtown St. Paul.
Northmarq arranged financing on behalf of the borrower, StuartCo, through its correspondent relationship with a life insurance company.
“The loan was timely in that it took advantage of a dip in the Treasury rates to lock at a very aggressive rate, but also preserved flexibility in the event that interest rates fall during the term,” said Trebil.
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