Northmarq secures $4.627 million acquisition financing for Arthur Ashe Boulevard Apartments in Richmond, Virginia
RICHMOND, VIRGINIA (March 14, 2022) –Hunter Wood, Keith Wells, and Reina Mazicioglu of Northmarq’s Richmond debt/equity team, arranged the $4.627 million acquisition financing for Arthur Ashe Boulevard Apartments. The 36-unit multifamily property is located at 215-218 South Arthur Ashe Boulevard, Richmond, Virginia. The permanent-fixed loan was structured on a 15-year term. Northmarq secured the financing for the borrower through a regional bank.
Located in The Fan District, Arthur Ashe Boulevard Apartments is surrounded by three nearby colleges: Virginia Union University (2.0 miles), Virginia Commonwealth University (2.0 miles), and Reynolds Community College (3.6 miles). The area is considered a walker and biker’s paradise, with five accessible parks, including Byrd Park, only 1.1 mile away. The property is equipped with ceiling fans, un-unit washer/dryer, full kitchen, hardwood flooring, vaulted ceilings, crown molding, and spacious bedrooms.
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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.
