Northmarq Arranges $41.6M Loan For Student Housing In Mankato, MN

The student housing property located at 200 Briargate Road in Mankato, MN has recently undergone a closed transaction. The property consists of 524 units and is situated in a prime market. The deal was brokered by Andy Finn from Northmarq.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $41,610,000
• Date of Transaction: 08/04/2022
• Market: Mankato, MN
• Units: 524

The loan for this transaction was secured on a non-recourse basis. It has a seven-year term with three years of interest-only payments, followed by a 30-year amortization schedule.

Andy Finn from Northmarq played a key role in representing the parties involved in this deal.