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MinnesotaIndustrial

WaterStone Bank provides $2.1 million to refinance 74,000-square-foot industrial property in Minnesota

Staff Writer April 5, 2017
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WaterStone Bank recently provided a $2.1 million loan to Pettibone Properties 5, LLC to refinance a 74,641-square-foot multi-tenant industrial building in Brooklyn Park, Minn.

The proceeds were used to pay off the underlying CMBS first mortgage loan and make partner distributions.

Paul Muldoon and Peter Austin, vice presidents in the Minneapolis branch of the bank, originated the loan.

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