NorthMarq completes $2.2 million in acquisition financing for Exchange Alley Lofts in Richmond, Virginia
Exchange Alley Lofts
RICHMOND, VIRGINIA (August 10, 2021) – Hunter Wood, vice president of NorthMarq’s Richmond office arranged acquisition financing of $2.2 million for Exchange Alley Lofts. The multifamily property, built in 1870 and last renovated in 2017, contains 27 units and is located at 8-10 South 14th Street in Richmond, Virginia. NorthMarq arranged financing for the borrower through its relationship with a regional bank. The transaction featured maximum leverage and NorthMarq’s lending partner was the only entity to offer 80 percent LTV.
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.
