NORTHMARQ ARRANGES TWO MULTIFAMILY LOANS TOTALING $6.5 MILLION
DULUTH AND NORTHFIELD, MINN. — Brian Hennen in the Minneapolis office of NorthMarq Capital has arranged $6.5 million in first mortgage financing for two Minnesota multifamily properties. In Duluth, Hennen arranged a $5.4 million loan for the 180-unit Highland Village Apartments. Financing for the property was based on a 10-year term, with a 30-year amortization schedule. In Northfield, Hennen arranged $1.1 million in first mortgage for Riverview Manor Apartments. The loan for the 48-unit community was based on a 10-year term, with a 30-year amortization schedule. Both of the loans were arranged for undisclosed borrowers through NorthMarq’s seller/servicer relationship with Freddie Mac.