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Northmarq Structures $14M Refi for Multifam in Richmond’s Old Town Manchester
Northmarq has finalized at $14-million refinance of Hopper Lofts, a 139-unit multifamily in Richmond, VA.
Reina Mazicioglu and Hunter Wood of Northmarq structured a permanent-fixed loan with a 10-year interest-only term followed by a 30-year amortization schedule. Northmarq secured the financing through its in-house Fannie Mae platform.
The 2012-constructed, four-story property sits at 700 Everett Street in the upgraded industrial neighborhood of Old Town Manchester. The Richmond International Airport is only 10.1 miles away from the property, equaling a 19-minute drive. Residents benefit from proximity to three shopping centers: City View Marketplace (0.4 miles), Wilton Square at Tobacco Row (2.0 miles), and Fulton Yard Site C (3.6 miles). There are five parks within three miles, conveniently accessible to walkers and bikers.
Property features include pet play area with washing station, fitness center, clubhouse, courtyard, lounge, on-site maintenance, elevator, door-to-door trash pickup and assigned parking space.
- ◦Financing
