Multifamily - Debt

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

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.