Northmarq secures $18.95M acquisition financing of 150-unit multifamily property Southbank Apartments in Richmond, VA
RICHMOND, Va. (Dec. 22, 2022) — Northmarq’s Richmond Debt + Equity team successfully arranged the $18.95 million acquisition financing of a 150-unit multifamily property at 1937 Decatur Street in Richmond, Virginia. Built in 1937, the property was refinanced through Northmarq’s status as a Freddie Mac Optigo lender. The permanent, fixed-rate loan was structured with a 12-year term with 6 years interest-only.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
