REBusinessOnline

Northmarq Provides $12.5M Acquisition Loan for Multifamily Property in Rochester, Minnesota

Timberland Heights comprises 147 units.

ROCHESTER, MINN. — Northmarq has provided a $12.5 million Freddie Mac loan for the acquisition of Timberland Heights in Rochester. The 147-unit multifamily property, built in 1975, is located at 1515 41st St. NW. Amenities include a fitness center, pool, clubhouse, playground and laundry facilities. Mike Padilla of Northmarq originated the 10-year loan, which features four years of interest-only payments and a 30-year amortization schedule. The borrower was not provided.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties