Roers Cos, led by Kent & Brian Roers, has secured a $45,030,000 loan for a multifamily property in Fridley, Minn. The property, located at 6530 University Ave. NE, consists of 262 units and was financed by northmarq''>Northmarq. The 10-year loan comes with a unique term structure, requiring interest-only payments for the first seven years and then transitioning to a 30-year amortization schedule.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $45,030,000
• Address: 6530 University Ave. NE
• Market: Fridley, Minn
• Units: 262
• Lender: Northmarq
• Landlord: Roers Cos - Kent & Brian Roers

This financing deal was facilitated by Northmarq for Roers Cos, with Kent & Brian Roers representing the landlord's interests. The 10-year loan structure, with its initial interest-only period, provides flexibility for the Roers Cos to manage property operations and cash flow effectively. This transaction demonstrates the Roers Cos' commitment to investing in and managing multifamily properties in Fridley, Minn.