NorthMarq secures $34 million construction loan for Hardywood Village in Richmond, Virginia
Hardywood Village
RICHMOND, VIRGINIA (August 23, 2021) – Keith Wells, managing director and Reina Abboud, vice president of NorthMarq’s Richmond office completed a $34 million construction loan for Hardywood Village. The 189-unit multifamily property with ancillary retail space will be located at 1601 Overbrook Road in Richmond, Virginia. The transaction was structured with a 30-year fully amortizing term. NorthMarq arranged financing for the borrower through its relationship with the Virginia Housing & Development Authority (VHDA)
“Our team was able to secure financing through VHDA thanks to their competitiveness on leverage,” said Abboud. “No other lender came close to them in terms of the complete financing package provided for this project.”
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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.
