NORTHMARQ ARRANGES $1 MILLION MULTIFAMILY LOAN IN ST. CLOUD

ST. CLOUD, MINN. — Michael Padilla of NorthMarq Capital’s Minneapolis office has secured $1 million in refinancing for Victorian Terrace Apartments in St. Cloud. Located at 230-240 Second St. NE, the property offers 48 residential units. The loan was structured with a 10-year term and 15-year amortization schedule. NorthMarq arranged the loan for the borrower through its relationship with a correspondent life insurance company.