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