NorthMarq secures $34 million construction loan for Hardywood Village in Richmond, Virginia
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 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.
