Michael Padilla, vice president of NorthMarq Capital’s Minneapolis regional office, secured $6.55 million in refinancing for East River Apartments, a 44-unit multi-family property at 2320 Marshall Ave. in St. Paul, Minn.
The transaction was structured with a 10-year term and 30-year amortization schedule.
NorthMarq arranged the financing through its correspondent relationship with a life-insurance company.
