Northmarq’s Richmond office secures acquisition financing of $5.85 million for industrial property in Virginia Beach, Virginia
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.
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.
