NorthMarq completes $2.2 million in acquisition financing for Exchange Alley Lofts in Richmond, Virginia
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.
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.
