NORTHMARQ ARRANGES TWO LOANS TOTALING MORE THAN $8.5 MILLION
ROCHESTER AND MINNEAPOLIS, MINN. — Minneapolis-based NorthMarq Capital has arranged two Minnesota loans totaling more than $8.5 million. Brian Hennen of NorthMarq Capital’s Minneapolis office has arranged $6 million in first-mortgage financing for Northwest Plaza retail center located in Rochester. Gander Mountain is a major tenant in the 75,294-square-foot development. Financing was based on a 10-year term, with a 25-year amortization schedule. The loan was arranged for the undisclosed borrower, through NorthMarq’s relationship with Thrivent Financial.
Also in NorthMarq’s Indianapolis office, Daniel Trebil has arranged $2.66 million in first-mortgage acquisition financing for Apple Square Apartments. The 73-unit multifamily community is located at 1818 14th Ave. South in Minneapolis. Financing was based on a 10-year term with 2 years interest-only, and a 30-year amortization schedule. The loan was arranged for the borrower, a two-member tenants-in-common entity, through AmeriSphere Multifamily Finance.