Mike Lowry secures $16 million construction loan for student housing property in Blacksburg, Virginia
RICHMOND, VIRGINIA (January 23, 2020) – Mike Lowry, senior vice president of NorthMarq’s Richmond-based regional office arranged the $16 million construction loan for 1222 Patrick Henry Apartments. The 75-unit student housing property is located in Blacksburg, Virginia. NorthMarq arranged financing for the borrower through its relationship with a local bank. NorthMarq previously financed a construction loan for the property in 2018.
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. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.