Northmarq secures $4.627 million acquisition financing for Arthur Ashe Boulevard Apartments in Richmond, Virginia

Arthur Ashe Blvd Apts
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Bank
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RICHMOND, VIRGINIA (March 14, 2022) –Hunter Wood, Keith Wells, and Reina Mazicioglu of Northmarq’s Richmond debt/equity team, arranged the $4.627 million acquisition financing for Arthur Ashe Boulevard Apartments. The 36-unit multifamily property is located at 215-218 South Arthur Ashe Boulevard, Richmond, Virginia. The permanent-fixed loan was structured on a 15-year term. Northmarq secured the financing for the borrower through a regional bank.

Located in The Fan District, Arthur Ashe Boulevard Apartments is surrounded by three nearby colleges: Virginia Union University (2.0 miles), Virginia Commonwealth University (2.0 miles), and Reynolds Community College (3.6 miles). The area is considered a walker and biker’s paradise, with five accessible parks, including Byrd Park, only 1.1 mile away. The property is equipped with ceiling fans, un-unit washer/dryer, full kitchen, hardwood flooring, vaulted ceilings, crown molding, and spacious bedrooms.

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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.
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