Northmarq arranges acquisition financing of $29,000,000 for Rockefeller & Loraine in Norfolk, Virginia
Rockefeller & Loraine
RICHMOND, VIRGINIA (July 26, 2021) – Keith Wells, senior vice president/managing director and Reina Abboud, vice president of Northmarq’s Richmond office, secured acquisition financing of $29,000,000 for Rockefeller & Loraine. The financing consisted of two separate locations in Norfolk, Virginia (Rockefeller I & II: 86-units; and The Loraine: 56 units). Northmarq arrange the permanent-fixed loan for the borrower through its in-house Fannie Mae team.
“Fannie Mae was more aggressive on proceeds with a great rate which were key for our borrower, who is a repeat Fannie Mae client,” said Wells.
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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.
