NorthMarq Secures $29M Acquisition Financing for Virginia MF Portfolio
NorthMarq has secured a $29 million acquisition loan for Rockefeller & Loraine, a two-property multifamily portfolio in Norfolk, VA.
The properties consist of Rockefeller I and II, an 86-unit community in Norfolk and The Loraine, a 56-unit community in Norfolk. Keith Wells and Reina Abboud of NorthMarq’s Richmond office arranged the permanent-fixed loan for the undisclosed borrower through its in-house Fannie Mae team.
“Fannie Mae was more aggressive on proceeds with a great rate which were key for our borrower, who is a repeat Fannie Mae client,” said Wells.
- ◦Sale/Acquisition
- ◦Financing