Multifamily - Debt

Northmarq arranges $16,214,00 construction loan for Stony Run Apartments in Ashland, Virginia

RICHMOND, VIRGINIA (February 8, 2023) — Northmarq’s Hunter Wood, Keith Wells, Reina Abboud, and Mike Lowry arranged a $16.214 million loan for an 82-unit luxury apartment building located at 10520 Stony Bluff Drive in Ashland, Virginia. Northmarq arranged financing for the borrower through its relationship with a regional bank.

The three, four-story buildings are slated for completion in 2023 and offers spacious one- and two-bedroom floorplans. Newly designed, Stony Run provides low maintenance living with top-of-the-line facilities, such as a resort-style pool, clubhouse, dog park, and fitness center. Residents will enjoy an incredible location as well, just two minutes from Interstate 95. 

Apartment amenities include: Brand new stainless steel appliances, balconies or patios, granite countertops, 9-foot ceilings, washer and dryer, peerless faucets, ceramic tile, and double sinks. Community amenities include: Cardio and free weights room, mailbox station, sitting room, workstations, public restrooms, nature areas, walking trails, a dog park, pergolas, swimming pool with sun shelves, hot tub, fire pit, and a cabana. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.