NorthMarq arranges $36.48 million refinance of Cambridge Square Apartments in Mechanicsville, Virginia
Cambridge Square Apts
RICHMOND, VIRGINIA (July 20, 2021) – Keith Wells, senior vice president/managing director of NorthMarq’s Richmond office completed the $36.48 million refinance of Cambridge Square Apartments. The 207-unit multifamily property is located on Brandy Run Drive in Mechanicsville, Virginia. The transaction was structured with a fully-amortizing 35-year term. NorthMarq arranged the permanent-fixed loan for the borrower through its in-house FHA/HUD team.
“Our in-house FHA/HUD team was able to secure more proceeds than either Freddie Mac or Fannie Mae,” noted Wells.
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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.
