NorthMarq’s Richmond office arranges acquisition financing of $2,215,000 for Landmark Apartments in Petersburg, Virginia
RICHMOND, VIRGINIA (March 31, 2021) – Reina Abboud, vice president of NorthMarq’s Richmond office secured acquisition financing of $2,215,000 for Landmark Apartments. The 53-unit multifamily property is located at 450 Van Buren Drive in Petersburg, Virginia. The transaction was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower, Mercer Street Partners, through its status as a Freddie Mac OPTIGO lender.
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
