Dealmaker: Northmarq Arranges Nearly $100M for Multifamily, Office
Northmarq Capital regional offices arranged $98.3 million in financing for a government building and several multifamily properties.
NorthMarq Capital’s Richmond office arranged $10.875 million in permanent financing for the GSA Gov. building, a 53,917 sq. ft. office property located in Norfolk, Va. The transaction was structured with a fixed rate, five-year term on a 25-year amortization and is pre-payable at par, non-recourse.
Keith Wells, senior vice president/managing director of NorthMarq Capital’s Richmond regional office, arranged the financing.
Wells also arranged $10.0 million in permanent financing for Waverton Impressions, a 132-unit multifamily property located in Newport News, 
Va. NorthMarq arranged financing for the borrower through its relationship with Waverton Associates, a developer of multifamily complexes headquartered in Portsmouth, Va.
NorthMarq Capital’s Tampa, Fla. office arranged $39.2 million in permanent construction financing for Ciel Apartments in Jacksonville, Fla., a 400-unit multifamily property.
The transaction was structured with a 15-year term on a 30-year amortization schedule with several year’s interest only while under construction and lease-up. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.
Bob Hernandez, senior vice president/managing director of NorthMarq Capital’s Tampa regional office, arranged the financing. “The lender worked diligently with the sponsor through planning to close as soon as the permits were obtained,” Hernandez said.
In Arizona, NorthMarq Capital’s Phoenix office closed $38.182 million to refinance two apartment complexes in Phoenix.
Luke Donahue, senior vice president/senior director of NorthMarq Capital’s Phoenix regional office, arranged financing for the properties:
–Colter Park Apartments: The 120-unit multifamily property received financing of $23.182 million. The full term interest-only loan was funded by NorthMarq’s Fannie Mae platform. The property is at 909 West Colter Street.
–Parkwood Apartments: The 344-unit multifamily property, at 6751 West Indian School Road, received $15 million in refinance funding. The full term interest-only loan was funded by NorthMarq’s Fannie Mae platform.
