NorthMarq finalizes $41,000,000 construction loan for Port 58 Hillpoint in Suffolk, Virginia
Port 58 Hillpoint
RICHMOND, VIRGINIA (July 20, 2021) – Keith Wells, senior vice president/managing director of NorthMarq’s Richmond office arranged a $41,000,000 construction loan for Port 58 Hillpoint. The 230-unbit multifamily property will be located at 3100 Godwin Boulevard in Suffolk, Virginia. The transaction was structured with a 30-year fully amortizing term. NorthMarq arranged the construction-permanent financing for the borrower through its correspondent relationship with the Virginia Housing & Development Authority.
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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.
