Northmarq completes $29.8 million construction loan for 103 East 2nd Street in Richmond, Virginia
103 East 2nd Street
RICHMOND, VIRGINIA (September 19, 2022) – Mike Lowry, Keith Wells, Reina Mazicioglu, and Hunter Wood of Northmarq’s Richmond debt/equity team, arranged the $29.8 million construction financing for the multifamily development. The 122,464 sq. ft. plot is located at 103 East 2nd Street, Richmond, Virginia. The permanent-fixed loan was structured on a 5-year term with 3-years interest only followed by a 30-year amortization schedule. Northmarq secured the financing through a local bank.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
