Northmarq arranges acquisition financing of $29,000,000 for Rockefeller & Loraine in Norfolk, Virginia
RICHMOND, VIRGINIA (July 26, 2021) – Keith Wells, senior vice president/managing director and Reina Abboud, vice president of Northmarq’s Richmond office, secured acquisition financing of $29,000,000 for Rockefeller & Loraine. The financing consisted of two separate locations in Norfolk, Virginia (Rockefeller I & II: 86-units; and The Loraine: 56 units). Northmarq arrange the permanent-fixed loan for the 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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