Wednesday, August 27, 2025
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Main2323
LoansMultifamilyNorthmarqSoutheastVirginia

NorthMarq Arranges $7.8M Loan for Main2323 Apartments in Richmond

by Julia Sanders

RICHMOND, VA. — NorthMarq has arranged a $7.8 million loan for Main2323, a 71-unit multifamily property in the historic Shockoe Bottom neighborhood in downtown Richmond. Mike Lowry of NorthMarq arranged the Freddie Mac loan, which was structured with a 10-year term and a 30-year amortization schedule. The undisclosed borrower is using the fixed-rate loan as a cash-out refinance. Renovated in 2016, Main2323 is a two-building property that was originally built in 1917. The property was 98 percent occupied at closing. Community amenities include a saltwater pool, courtyard and roof deck, internet, clubroom, fitness area and secured parking available.

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IowaLoansMidwestMultifamilyNorthmarq

NorthMarq Originates $9M Acquisition Loan for Multifamily Property in Dubuque, Iowa

by Kristin Harlow

DUBUQUE, IOWA — NorthMarq has originated a $9 million Freddie Mac loan for the acquisition of Radford Place Apartments in Dubuque, a city in eastern Iowa along the Mississippi River. The 108-unit, three-story property was built in 2010. Dan Trebil and Bill Mork of NorthMarq’s Minneapolis office structured the 10-year loan, which features two years of interest-only payments followed by a 30-year amortization schedule. The borrower was undisclosed.

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IndianaLoansMidwestMultifamilyNorthmarq

NorthMarq Arranges $6M CMBS Loan for Refinancing of Indianapolis Apartment Property

by Kristin Harlow

INDIANAPOLIS — NorthMarq has arranged a $6 million CMBS loan for the refinancing of El Dorado Apartments in Indianapolis. The 164-unit apartment property is located five miles northwest of downtown. Originally built in 1972, the community has undergone many improvements since 2008. Units range in size from one-bedroom to four-bedroom floor plans. Lawrence Larisma of NorthMarq’s Charlotte office arranged the 10-year loan, which features a 30-year amortization schedule.

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LoansNorthmarqOfficeTexas

NorthMarq Arranges Acquisition Loan for 250,000 SF Office Building in Houston

by Taylor Williams

HOUSTON — NorthMarq has arranged an acquisition loan of an undisclosed amount for Westchase Royal Oaks, a 250,000-square-foot office building in Houston. Warren Hitchcock of NorthMarq placed the five-year loan, which was structured with two years of interest-only payments followed by a 25-year amortization schedule. In addition, the financing featured a 70 percent loan-to-value ratio and a fixed interest rate of 3.75 percent. The borrower and the direct lender were not disclosed.

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Houston-Design-Center
LoansNorthmarqOfficeTexas

NorthMarq Arranges Loan for Refinancing of 281,356 SF Office Building in West Houston

by Taylor Williams

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of Houston Design Center, a 281,356-square-foot office and showroom on the city’s west side. John Burke of NorthMarq arranged the nonrecourse, fixed-rate loan through an undisclosed regional bank on behalf of the borrower, locally based investment firm MLB Capital Partners.

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