Northmarq completes $2.994 million in acquisition financing for 1140 West Grace in Richmond, Virginia

1140 West Grace

Debt & Equity

Multi-Tenant

RICHMOND, VIRGINIA (June 24, 2022) – Hunter Wood, vice president of Northmarq’s Richmond debt/equity team, arranged the $2.994 million acquisition financing for 1140 West Grace. The 18-unit/16,000 sq. ft. multifamily property (built in 1926) is located at 1140 West Grace Street, Richmond, Virginia. The permanent-fixed loan was structured on a 7-year term with 1-year interest only followed by a 30-year amortization schedule. Northmarq secured the financing through a regional bank.

1140 West Grace is a Victorian Style property located west of historic Downtown Richmond. Situated in a highly walkable neighborhood, there are two shopping centers within a 10-minute walk of the property: College Station Shopping Center (0.3 miles) and Gate Street Plaza (0.5 miles). Residents benefit from proximity to five parks within 1.9 miles along with education and employment opportunities from the surrounding city.

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About Northmarq

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.