TODAY’S DEALS: NorthMarq Capital Arranges $11.25M Combined Mortgage for Two Apartment Communities Totaling 476 Units, and Other Transactions

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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.

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