TODAY’S DEALS: NorthMarq Capital Arranges $11.25M Combined Mortgage for Two Apartment Communities Totaling 476 Units, and Other Transactions
By Anuradha Kher, Online News EditorMinneapolis, Minn.–NorthMarq Capital’s Minneapolis regional office has arranged first mortgage financing of $11.25 million for two apartment complexes, the 360-unit Park Meadows Apartments in Waite Park, Minn. and the 116-unit Terrace on the Green in Moorhead, Minn. Financing for both of these multifamily properties was arranged for the borrower by…
By Anuradha Kher, Online News EditorMinneapolis, Minn.–NorthMarq Capital’s Minneapolis regional office has arranged first mortgage financing of $11.25 million for two apartment complexes, the 360-unit Park Meadows Apartments in Waite Park, Minn. and the 116-unit Terrace on the Green in Moorhead, Minn. Financing for both of these multifamily properties was arranged for the borrower by NorthMarq through its seller/servicer relationship with Freddie Mac. Arbor Closes $4M Fannie Mae DUS Small LoanQuincy, Mass.–Arbor Commercial Funding LLC recently completed funding of a $4,000,000 loan under the Fannie Mae DUS Small Loan product line for the 54-unit complex known as Green Realty Apartments in Quincy, Mass. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent. The loan was originated by John Kelly, vice president, in Arbor’s Boston lending office. “This transaction represents our flexibility in providing a single mortgage across assets scattered within the same market,” says Kelly.
