NORTHMARQ ARRANGES TWO MULTIFAMILY LOANS TOTALING $29.3 MILLION

RICHFIELD, MINN. — Daniel Trebil in the Minneapolis office of NorthMarq Capital has arranged $24.3 million in first mortgage financing for Crossroads at Penn, a multifamily community located in Richfield. The loan for the 698-unit community was based on a 10-year term with 2-year interest only, followed by a 30-year amortization schedule. Financing was arranged for the borrower through NorthMarq’s affiliation with AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. Also in Richfield, Brian Hennen in the Minneapolis office of NorthMarq Capital has arranged $5 million in first mortgage financing for Colony Apartment Homes. Financing for the 212-unit community was based on a 7-year term with a 30-year amortization schedule. The loan was arranged from the undisclosed borrower through NorthMarq’s seller/servicer relationship with Freddie Mac.