Northmarq’s Richmond office secures acquisition financing of $5.85 million for industrial property in Virginia Beach, Virginia
1569 Diamond Springs
RICHMOND, VIRGINIA (June 21, 2022) – Reina Mazicioglu and Hunter Wood of Northmarq’s Richmond debt/equity team, completed the $5.85 million acquisition financing for 1159 Diamond Springs. The 100,000 sq. ft./class B distribution warehouse property (built in 1980) is located at 1569 Diamond Springs Road, Virginia Beach, Virginia.
The permanent-fixed loan was structured on a 9-year term with 3-years interest only followed by a 25-year amortization schedule. Northmarq secured the financing through a correspondent life company.
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.
