Mixed Use - Debt

NorthMarq Capital

NorthMarq Capital arranges acquisition/renovation and bridge financing of $39 million for mixed-use property located in Old Town Alexandria, Virginia

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.   

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.