NorthMarq’s Minneapolis office arranges $18 million refinance of Willows on France in Bloomington, Minnesota
MINNEAPOLIS, MINNESOTA (January 8, 2019) – Michael Padilla, vice president of NorthMarq’s Minneapolis regional office, secured the $18 million refinance of Willows on France, a 240-unit multifamily property located at 8848 Goodrich Road in Bloomington, Minnesota. The permanent-fixed loan was structured with a 10-year interest only term. NorthMarq arranged the refinance of an existing loan for the borrower through its in-house Fannie Mae team.
Property/community amenities include: garages, hardwood floors, laundry facilities, on-site management, outdoor pool, easy access to I-494 and 35W, close proximity to Normandale College, nearby parks, new renovations, air conditioning, ceiling fans, cable/satellite ready, carpeting/wood laminate flooring, dishwasher, high speed internet, extra storage, clubhouse, fitness center, controlled access and grilling areas.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
