RICHMOND, VA — Northmarq’s debt and equity team of Keith Wells, Hunter Wood, Reina Abboud, and Mike Lowry secured a $38,137,000 construction loan for the development of Lake Forest at Swift Creek located at 5950 Harbour Lane in Midlothian, VA. The 176-unit senior housing is being developed by The Holladay Corporation. Financing was sourced through Sandy Spring Bank, and the development is estimated to be completed in 2024.
The luxury apartment community will consist of one, three to four-story building, situated on 11.7 acres and 18 miles from downtown Richmond. Lake Forest at Swift Creek is designed for active adults ages 55 and older who will enjoy a short walk to Swift Creek Reservoir. Located just off Interstate 360, the property boasts an excellent location with various grocery stores restaurants, and retailers within a five-minute drive.
Northmarq’s Hunter Wood, Keith Wells, Reina Abboud, and Mike Lowry arranged a $16.214 million loan for an 82-unit luxury apartment building located at 10520 Stony Bluff Drive in Ashland, VA. Northmarq arranged financing for the borrower through its relationship with a regional bank.
The three, four-story buildings are slated for completion in 2023 and offers spacious one- and two-bedroom floorplans. Newly designed, Stony Run provides low maintenance living with top-of-the-line facilities, such as a resort-style pool, clubhouse, dog park, and fitness center. Residents will enjoy an incredible location as well, just two minutes from I-95.
Apartment amenities include: Brand new stainless steel appliances, balconies or patios, granite countertops, 9-foot ceilings, washer and dryer, peerless faucets, ceramic tile, and double sinks. Community amenities include: Cardio and free weights room, mailbox station, sitting room, workstations, public restrooms, nature areas, walking trails, a dog park, pergolas, swimming pool with sun shelves, hot tub, fire pit, and a cabana.
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