NorthMarq Capital Arranges $203.5M in Acquisition Financing for Office Park in Bloomington, Minn.

BLOOMINGTON, MINN. — NorthMarq Capital’s Minneapolis office has arranged a $203.5 million loan on behalf of an investment partnership between MetLife and Allstate Insurance Co./Allstate Life Insurance Co. for the acquisition of Normandale Lake Office Park. Northwestern Mutual is the lender. Located in the southwest suburb of Bloomington, Normandale is situated on 23 acres overlooking the 2,500-acre Normandale Lake recreational area. Amenities include a childcare facility, two full-service restaurants, conference space and two fitness centers. The complex consists of 1.7 million square feet of Class A office space in five towers, which are connected by enclosed skyways. The park is 93 percent occupied, an increase of 10 percent in the last two years. Tenants at the park include Prime Therapeutics, Aon Benfield, Schwan’s, Towers Watson, Tata Consultancy Services, Emerson Corporation and Oracle Corp. The sale was the second largest suburban office sale in the United States year-to-date in 2014. NorthMarq’s Minneapolis team also included James Hoopes, Daniel Trebil, Michael Padilla and Jon Miller.