Northmarq’s Richmond office secures $38.14 million in construction financing for the development of 176 units of senior housing

Lake Forest at Swift Creek
Debt & Equity
Multi-Tenant
Assisted Living
Construction Loan
Bank
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RICHMOND, VIRGINIA (February 8, 2023) — Northmarq’s debt and equity team of Keith Wells, Hunter Wood, Reina Abboud, and Mike Lowry secured a $38,137,000 construction loan for the development of Lake Forest at Swift Creek located at 5950 Harbour Lane in Midlothian, Virginia. The 176-unit senior housing is being developed by The Holladay Corporation. Financing was sourced through Sandy Spring Bank, and the development is estimated to be completed in 2024.

The luxury apartment community will consist of one, three to four-story building, situated on 11.7 acres and approximately 18 miles from downtown Richmond. Lake Forest at Swift Creek is designed for active adults ages 55 and older who will enjoy a short walk to Swift Creek Reservoir. Located just off Interstate 360, the property boasts an excellent location with various grocery stores restaurants, and retailers within a five-minute drive. 

 

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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.
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