TWO MULTIFAMILY LOANS TOTALING $17.35 MILLION ARRANGED IN MINNESOTA

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ST. LOUIS PARK AND ROCHESTER, MINN. — NorthMarq Capital has arranged $17.35 million in combined first mortgage financing for two multifamily properties in Minnesota. The Edge at Uptown, a 139-unit property located at 3025 Ottawa Ave. and 4725 Minnetonka Blvd. in St. Louis Park, received $8.5 million. The 146-unit Sunset Trail Apartments, located at 3625 and 2655 41st St. N.W. in Rochester, received $8.5 million. Financing for both transactions was based on a 10-year term and were arranged for the undisclosed borrowers by NorthMarq through its seller-servicer relationship with Freddie Mac. Patrick Minea of NorthMarq's Minneapolis Regional office arranged the loans.

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