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Northmarq Arranges $65M Refinancing for Mass Timber Office Building in Charlottesville, Virginia

Apex Plaza, located at 100 Garrett St. in Charlottesville, Va., features 151,000 square feet of office space, a 102,000-square-foot parking structure and 6,800 square feet of retail space.

CHARLOTTESVILLE, VA. — Northmarq has arranged $65 million for the refinancing of Apex Plaza, a cross-laminated timber (CLT) office property located at 100 Garrett St. in Charlottesville. CLT is a design method that uses prefabricated wood panels, which offers design flexibility and low environmental impacts for developers and architects. Keith Wells, Mike Lowry, Reina Abboud and Hunter Wood of Northmarq arranged the financing through a regional bank on behalf of the undisclosed borrower.

At 265,000 square feet, Apex Plaza is the largest CLT project on the East Coast, according to Northmarq. The property includes 151,000 square feet of office space, a 102,000-square-foot parking structure with EV charging stations and 6,800 square feet of retail space. The facility also features 875 solar panels and a green roof designed to promote biodiversity and storm water retention.

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

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