CRE W Minnesota

NorthMarq's Minneapolis office provides construction loan for new multi-family complex

Michael Padilla, vice president of NorthMarq's Minneapolis regional office, recently arranged a $29 million construction loan for Track 29.

Michael Padilla, vice president of NorthMarq's Minneapolis regional office, recently arranged a $29 million construction loan for Track 29.

Track 29 is a 198-unit apartment complex to be built on Bryant Avenue So. in Minneapolis.

Financing was based on a three-year interest-only term, and was arranged for the borrower by NorthMarq through its relationship with a regional bank.