Northmarq has arranged a $16.2-million construction loan for an 82-unit apartment complex located at 10520 Stony Bluff Drive in Ashland, VA.

Hunter Wood, Keith Wells, Reina Abboud, and Mike Lowry of Northmarq, a full-service capital markets resource for commercial real estate investors, arranged the financing on behalf of the borrower through its relationship with a regional bank.

The three, four-story buildings, located two minutes from Interstate 95 are slated for completion in 2023. Stony Run Apartments will offer one- and two-bedroom floorplans along with pool, clubhouse, dog park, and fitness center. Additional community amenities will include cardio and free weights room, mailbox station, sitting room, workstations, public restrooms, nature areas, walking trails, pergolas, hot tub, fire pit and cabana.