TUESDAY, NOVEMBER 18, 2008

NorthMarq arranges mortgage financing for Hopkins, Minn. apartment complex

by Jim Brubaker

Creek Point Apartments

Daniel Trebile, NorthMarq Capital, Inc.'s, vice president and senior director of the company's Minneapolis regional office, recently arranged first mortgage financing of a Hopkins, Minn., multi-family development.

The $1.575 million first mortgage financing for the 101-unit Creek Point Apartments is based on a 10-year term with a 30-year amortization schedule and was arranged through NorthMarq's relationship with a national bank.

Creek Point Apartments, a two building, four story apartment complex, is 15 miles from downtown Minneapolis. Reinforced concrete construction provides a noise-free living environment and apartment amenities include air conditioning, a dishwasher and garbage disposal, a large storage closet for in each unit and underground parking.