NorthMarq arranges $36.48 million refinance of Cambridge Square Apartments in Mechanicsville, Virginia

Cambridge Square Apts
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RICHMOND, VIRGINIA (July 20, 2021) – Keith Wells, senior vice president/managing director of NorthMarq’s Richmond office completed the $36.48 million refinance of Cambridge Square Apartments. The 207-unit multifamily property is located on Brandy Run Drive in Mechanicsville, Virginia. The transaction was structured with a fully-amortizing 35-year term. NorthMarq arranged the permanent-fixed loan for the borrower through its in-house FHA/HUD team. 

“Our in-house FHA/HUD team was able to secure more proceeds than either Freddie Mac or Fannie Mae,” noted Wells. 

 

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.