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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.

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Inside The Story

NorthMarq’s Wells

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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