FRIDAY, SEPTEMBER 12, 2008

Welsh Capital closes over $32 million in permanent mortgages

by Jim Brubaker
Minnesota

Welsh Capital has announced the closing of over $32 million in permanent mortgages for several commercial properties during a 45-day period. The loans originated with Welsh Capital's correspondent lenders and were funded by commercial banks.

In Minneapolis, these include the 10-unit apartment buildings at Chicago Place and 3757 Harriet and a 42-unit apartment building at 1302 Linden Ave.

The properties that Welsh Capital closed mortgages on in St. Paul included a 19-unit Ashland Place closing, the 28-unit Birmingham Apartments and 10,240 square feet of retail space at Pier One Grand Avenue.

Outside of the Minneapolis/St. Paul metro area, mortgages were for the 150-unit Hopkins Arches apartments in Hopkins, Minn., the 48-unit County Line Apartments in Buffalo, Minn. and 166,229 square feet of industrial space at Oakdale Interstate and Hadley Business Centers in Oakdale, Minn.

The value of the master lease Love Funding processes loan under HUD'S LEAN program Arbor Closes $1,427,600 Fannie Mae DUS Loan Crookston, Minn., ice arena to net city $150,000 annually Financing arranged for four area multifamily units Grandbridge relying on stability, expansion to survive real estate slump Zen in 2010? Heaven in 2011? NorthMarq secures mortgage financing for St. Cloud apartments Leaders Bank extends Melrose Park, Ill., retail center loan NorthMarq arranges mortgage financing for two Twin Cities apartment complexes