Northmarq Provides $13.5M Refinancing for Two Multifamily Properties in Metro Twin Cities

MAPLEWOOD, MINN. — Northmarq has provided a $13.5 million Fannie Mae DUS loan for the refinancing of Sherwood Glen and Keller Flats in Maplewood. The two garden-style multifamily properties total 165 units. Built in 1964 and 1966, Sherwood Glen and Keller Flats operate as naturally occurring affordable housing. All units are reserved for residents earning 60 percent or less of the area median income. Since acquiring the assets in 2021, Kentaurus Capital has invested in roof replacements, exterio