Northmarq finalizes refinance of $14 million for Hopper Lofts in Richmond, Virginia

Hopper Lofts

Debt & Equity

Multi-Tenant

RICHMOND, VIRGINIA (September 19, 2022) – Reina Mazicioglu and Hunter Wood of Northmarq’s Richmond debt/equity team, arranged the $14 million refinance of Hopper Lofts. The 139-unit/4-story multifamily property (built in 2012) is located at 700 Everett Street, Richmond, Virginia. The permanent-fixed loan was structured with a 10-year interest only term followed by a 30-year amortization schedule. Northmarq secured the financing through its in-house Fannie Mae platform.

Highly rated and located in the upgraded industrial neighborhood of Old Town Manchester, Hopper Lofts lies within city attractions and river views. The Richmond International Airport is only 10.1 miles away from the property, equaling a 19-minute drive. Residents benefit from proximity to three shopping centers: City View Marketplace (0.4 miles), Wilton Square at Tobacco Row (2.0 miles), and Fulton Yard Site C (3.6 miles). There are five parks within only 3 miles, conveniently accessible to walkers and bikers.

Property features include: Granite kitchen countertops, polished concrete flooring, spacious closets, pet play area with washing station, state-of-the-art fitness center, clubhouse, courtyard, lounge, on-site maintenance, elevator, door-to-door trash pickup, and assigned parking space.

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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.