REBusinessOnline

LAUTH SECURES $70 MILLION IN FINANCING FOR MEDICAL PROJECT

NORFOLK, VA. — Lauth has secured $70 million in financing for the 195,890-square-foot Fort Norfolk Plaza and is eyeing an April 2010 completion date for the healthcare project. Located on Brambleton Avenue in Norfolk, the project is a joint venture partnership between Lauth and Dr. Keith H. Newby, Sr. Tenants in the building include Sentara Medical Group, which is leasing 65,000 square feet, and Dr. Newby’s Cardiology Arrhythmia Consultants, which will occupy 22,000 square feet. The property will be connected to a 904-space parking deck. Financing comes from the New Markets Tax Credit program, Bank of America and SunTrust.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
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‣ Walker & Dunlop

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