NorthMarq Capital arranges acquisition/renovation and bridge financing of $39 million for mixed-use property located in Old Town Alexandria, Virginia
Tavern Square
WASHINGTON D.C. (July 9, 2018) – NorthMarq Capital’s Washington, D.C. regional office arranged a $39 million loan facility for Tavern Square; a 171,000 square foot office and retail property located in historic Old Town. The debt placement was on behalf of a joint venture between Galaxy Investments, LLC and an institutional investor. The 60 percent leased property presents an opportunity to bring new life to a property located across from the iconic Alexandria City Hall and occupies an entire city block with frontage directly on King Street.
With amenities galore, tenants can shop in over 530 retail stores, dine at over 100 restaurants, stroll the historic streets of Old Town and have proximity to luxury hotels, Metro and WaterTaxi service to Georgetown, Nationals Park, National Harbor, The Wharf and National Mall.
With amenities galore, tenants can shop in over 530 retail stores, dine at over 100 restaurants, stroll the historic streets of Old Town and have proximity to luxury hotels, Metro and WaterTaxi service to Georgetown, Nationals Park, National Harbor, The Wharf and National Mall.
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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.
