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