MINNEAPOLIS – Patrick S. Minea, senior vice president and managing director of NorthMarq’s Minneapolis based regional office, secured refinancing of $20 million for Montreal Courts Apartments. The conventional market rate apartments consist of a total of 444 units. Financing was arranged for the borrower through NorthMarq’s relationship with Freddie Mac.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.