NorthMarq arranges acquisition financing of $29,000,000 for Rockefeller & Loraine in Norfolk, Virginia
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 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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
