NorthMarq Capital’s Washington, D.C. office arranges $24.2 million in equity for construction loan for multifamily property in Hyattsville, Maryland
Class “A” Rental Community/Equity Placement
WASHINGTON, D.C. (November 7, 2016) – Kenneth Gentzel, senior vice president/managing director and Jason M. Smith, senior vice president of NorthMarq Capital’s Washington, D.C.-based regional office, arranged $24.2 million in equity for the construction of The Edition, a 351 unit multifamily property to be located in Hyattsville, Maryland. The class “A” rental community has a remarkable “inside the beltway” location and a quick 300 yard walk to the Washington, D.C. Metro (Prince George’s Plaza Station), the region’s subway/light rail system that provides frequent service to downtown DC (15-20 minutes) and the Northern Virginia and Maryland suburbs.
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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.
