Bill Mork, vice president in Northmarq’s Minneapolis debt/equity office, secured the $5.8 million refinancing of The Lights – South. The 36-unit/six-floor class-A multifamily property is located at 3100 Sheyenne St. in West Fargo, North Dakota.
The transaction was structured with a fully-amortizing 35-year term. Northmarq negotiated financing for the borrower, EPIC Companies, through its in-house FHA/HUD team.
The property is part of the larger The Lights mixed-use commercial, residential and active life space that will house more than 20 businesses and nearly 300 units. The location features a City of West Fargo-owned transformable plaza that hosts concerts, outdoor events, dining, shopping and entertainment. Other components include a parking garage, apartments and commercial spaces.
Current buildings at The Lights include EPIC and ECHO. Future buildings include ENVY, currently in construction, and EDGE, in development.
