Finance W Minnesota

NorthMarq arranges $13 million refinancing for multi-family property in Minnesota

Michael Padilla, vice president of NorthMarq's Minneapolis regional office, recently arrranged first mortgage refinancing of $13.2 million for Willows on France, a 240-unit market-rate multi-family property in Bloomington, Minn.

[caption id="attachment_14114" align="alignleft" width="288" caption="Willows on France"] Michael Padilla, vice president of NorthMarq's Minneapolis regional office, recently arrranged first mortgage refinancing of $13.2 million for Willows on France, a 240-unit market-rate multi-family property in Bloomington, Minn.

Financing was based on a seven-year term and a 30-year amortization schedule.

Financing was arranged for the borrower, Willows on France LLC, by NorthMarq through its seller-servicer relationship with Freddie Mac.