NorthMarq secures $56 million assumption and second mortgage acquisition financing of Terrace View Apartments in Blacksburg, Virginia

Terrace View Apts

WASHINGTON, D.C. (April 13, 2015) – Gary McGlynn, senior vice president/co-managing director and Kenneth Gentzel, senior vice president/co-managing director of NorthMarq’s Washington, D.C. office arranged assumption and second mortgage acquisition financing of $56 million for Terrace View Apartments, a 756-unit student housing property located at 413 Hunt Club Road in Blacksburg, Virginia. The property serves the students of Virginia Tech University, the largest university in Virginia, with more than 31,000 students enrolled. The transaction was structured with long term interest-only financing.

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:

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