Multifamily - Debt

Northmarq completes $29.8 million construction loan for 103 East 2nd Street in Richmond, Virginia

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.