MINNEAPOLIS, MINN.—Towle Financial Services (Towle) has closed approximately $84 million in new loans over the last three months for a mix of property types, including office, retail, industrial and apartment properties.
“At $84 million in new financings in 90 days we are closing about $1 million a day,” said Mark Vannelli, president/principal of Towle. “These loans were secured by 19 different properties in four states with 10 different lenders. With this nice mix of property types, loan amounts and geographic locations we feel good about what we have accomplished for our clients.”
Established in 1909, Towle Financial is the oldest commercial mortgage banking company in Minneapolis and provides a variety of mortgage financing solutions for developers, owners and investors of commercial real estate.