Finance W Minnesota

NorthMarq closes $2.05 million refinance for St. Paul apartments

NorthMarq closes $2.05 million refinance for St. Paul apartments,ph01

Michael Padilla with the Minneapolis office of NorthMarq recently arranged the $2.05 million refinance of 623 Lofts, a 17-unit multifamily property in St. Paul, Minnesota.

The loan has a 10-year term with a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Freddie Mac’s Small Balance Program.