Northmarq, a full-service capital markets resource for commercial real estate investors, arranged the $21.727 million refinance of Oaks Minnehaha Longfellow in Minneapolis, Minnesota. Senior Vice President Mike Padilla of Northmarq’s Minneapolis debt and equity team structured the transaction on a 5-year term with 3 years of interest only followed by a 35-year amortization schedule secured through its status as Freddie Mac Optigo lender.
Oaks Minnehaha Longfellow is newly built in 2020 and offers upscale amenities located 1.4 miles from popular parks including Minnehaha Regional Park along the Mississippi River featuring remarkable trails, limestone bluffs and waterfall. The property boasts stainless steel appliances, quartz countertops custom cabinetry walk-in closets wood style flooring plus easy access to biking & pedestrian pathways making it an appealing neighborhood choice for tenants seeking modern living options near outdoor recreation activities .
