Jon Miller, vice president of NorthMarq Capital’s Minneapolis-based regional office, has arranged the $18.375 million refinance of Marquee Place, a 72,000-square-foot retail/office property at 641-681 Lake Street East in Wayzata, Minn.
The transaction was structured with a 12-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“Marquee Place is a trophy asset,” said Miller in a written statement. “The mixed-use property commands some of the highest office rents in Minnesota.”