Northmarq arranges acquisition financing of $27,000,00 for Lakewood Plaza Apartments in Norfolk, Virginia

Lakewood Plaza Apts

CHICAGO, ILLINOIS (January 28, 2022) – Reina Abboud, vice president of Northmarq’s Richmond office, Kevin McCarthy, senior vice president, and Sue Blumberg, senior vice president/managing director of Northmarq’s Chicago office, collaborated to arrange acquisition financing of $27,000,000 for Lakewood Plaza apartments. The 200-unit multifamily property is located in Norfolk, Virginia. The transaction was structured with tax-exempt bonds, with an 18-year loan term, and a 40-year amortization. Northmarq arranged the permanent-fixed rate loan for the borrower through Specialty Finance Group, a division of Cedar Rapids Bank and Trust, through their affordable housing financing program.  The property will undergo significant renovations providing affordable housing to the residents.

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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