NorthMarq Capital Arranges $30M Construction Loan for Multifamily Asset in Downtown Richmond

The 10-story, 213-unit Reynolds South Tower is located at 505 Porter St. in downtown Richmond, Va.

RICHMOND, VA. — NorthMarq Capital has secured a $30 million loan for Reynolds South Tower, a 10-story, 213-unit apartment community located at 505 Porter St. in downtown Richmond. Mike Lowry of NorthMarq Capital arranged the construction loan through Union Bank & Trust. The loan features a variable interest rate that will convert to a fixed-rate, permanent loan upon completion.

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