Northmarq Arranges $21.7 Million Refinancing for Oaks Minnehaha Longfellow in Minneapolis

MINNEAPOLIS — Northmarq arranged $21.7 million in refinancing for Oaks Minnehaha Longfellow, a 179-unit property in Minneapolis. Mike Padilla of Northmarq’s Minneapolis office led the debt and equity team that arranged the transaction. The transaction was structured on a 5-year term with 3 years interest, followed by a 35-year amortization schedule. Freddie Mac provided the loan. The borrower was not disclosed. Oaks Minnehaha Longfellow was built in 2020. Units include stainless steel appliances, quartz countertops, in-unit washers and dryers, balconies and patios, wood-style flooring, high speed internet access and intercom system.