Multifamily
Debt & Equity

NorthMarq’s Richmond office completes acquisition financing of $6,015,000 for Star Lofts in Petersburg, Virginia

RICHMOND, VIRGINIA (January 26, 2021) – Reina Abboud, vice president of NorthMarq’s Richmond office arranged acquisition financing of $6,015,000 for Star Lofts. The 66-unit multifamily property is located at 16 South Market Street in Petersburg, Virginia. The permanent-fixed loan was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae. 

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.

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Star Lofts
Permanent Loan - Fixed
$6,015,000