NORTHMARQ ARRANGES $3.8 MILLION LOAN FOR RETAIL CENTER

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PLYMOUTH, MINN. — NorthMarq Capital has arranged $3.8 million in first-mortgage financing for Plymouth Town Center, a 26,330-square-foot retail center located in Plymouth. The property was approximately 95 percent occupied at the time of closing and is shadow-anchored by a Cub Foods grocery store. Brian Hennen of NorthMarq’s Minneapolis office secured the loan, which carries a 10-year term and a 25-year amortization schedule. The borrower was a tenant-in-common structured ownership group and the lender was Thrivent Financial for Lutherans.

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