Northmarq secures $18.95M acquisition financing of 150-unit multifamily property Southbank Apartments in Richmond, VA
Southbank Apts
RICHMOND, Va. (Dec. 22, 2022) — Northmarq’s Richmond Debt + Equity team successfully arranged the $18.95 million acquisition financing of a 150-unit multifamily property at 1937 Decatur Street in Richmond, Virginia. Built in 1937, the property was refinanced through Northmarq’s status as a Freddie Mac Optigo lender. The permanent, fixed-rate loan was structured with a 12-year term with 6 years interest-only.
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.
