NorthMarq Capital arranges $10 million in financing for Newport News apartments
The regional office of NorthMarq Capital in Richmond reports that Keith Wells, senior vice president/managing director, has arranged $10 million in permanent financing for Waverton Impressions, a 132-unit apartment property in Newport News.
NorthMarq said it arranged financing for the borrower through its relationship with Waverton Associates, a developer of multifamily complexes headquartered in Portsmouth.
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through 37 offices nationwide. According to the company, it closes about $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion.