EDINA, MN – Venture Mortgage Corporation announces the successful funding of a 69-unit market rate multifamily property located in New Hope, MN.
The 20-year hybrid term, 30-year amortization loan was arranged through a partnership with a direct, Freddie Mac SBL lending source. VMC is also the arranged servicer of the loan.
The VMC Producer representing the borrower was Jason Hardy.
“We were happy to provide this repeat client with a non-recourse, long-term fixed rate debt solution with an interest rate in the 4’s,” states Hardy.
About Venture Mortgage: Headquartered in Edina, MN, Venture Mortgage Corporation has been providing a variety of commercial real estate financing structures for investors and owners since 1990. The team originates and services commercial real estate loans nationwide, with a strong presence in the mid-west. They maintain relationships with insurance companies, agency lenders, banks, conduit lenders and capital market investors. With an active servicing portfolio of $585 million and over $7 billion in originations to date, the team delivers comprehensive solutions to clients in every area of the capital stack.