Multifamily - Debt

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.