NorthMarq finalizes $41,000,000 construction loan for Port 58 Hillpoint in Suffolk, Virginia
RICHMOND, VIRGINIA (July 20, 2021) – Keith Wells, senior vice president/managing director of NorthMarq’s Richmond office arranged a $41,000,000 construction loan for Port 58 Hillpoint. The 230-unbit multifamily property will be located at 3100 Godwin Boulevard in Suffolk, Virginia. The transaction was structured with a 30-year fully amortizing term. NorthMarq arranged the construction-permanent financing for the borrower through its correspondent relationship with the Virginia Housing & Development Authority.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
