Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s Washington DC office arranges permanent financing of $9,504,000 for multifamily property in Washington, DC

WASHINGTON, D.C. (December 7, 2017) – NorthMarq Capital’s Washington D.C. regional office, arranged permanent financing of $9.504 million for the acquisition of a 156-unit multifamily property located in the Congress Heights/Anacostia neighborhood of Washington, D.C. The property is proximate to transportation routes, public transit, downtown D.C. and other apartment demand drivers. The area is a strong apartment market with high barriers to entry due to lack of land in the immediate area.

The property is 94 percent leased with all the vacancy consisting of down units. The Borrower is renovating 10 down units, increasing near term income potential while continuing to upgrade older units as the tenants roll-over will increase longer term potential income.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.