2D — November 18 - December 22, 2022 — The Lenders Directory — M id A tlantic Real Estate Journal


T he L enders D irectory

Berkadia arranges $27.7 Million in equity

ICHMOND, VA — Northmarq’s Rich- mond debt/equity R Wells, Lowry, Abboud & Wood collaborate to arrange refinance Northmarq’s Richmond office secures $65M in financing

“We pride ourselves on find - ing the right equity partners for developers and identified a capital source that had the same vision and goals for this project,” said Franklin. “Montage at Marquis Apart - ments marks GW Real Es- tate Partners’ first ground-up multifamily development in the Williamsburg/Hampton Roads/Newport News MSA,” said Robert Gordon, a GWREP principal. “This submarket in particular benefits from a diversified and growing population and economy, with limited new supply and high barriers to entry, which places it squarely within our wheel - house. Thanks to the Berka - dia team, we have a capital partner whose vision aligns with ours. We’re also grateful to long-term design partners, Heffner Architects P.C. and civil engineering firm Tim - mons Group, for their role in this project.” Located at 1200 Marquis Parkway, Montage at Marquis Apartments will be a class A, four-story, elevatored and conditioned-corridor property offering best-in-class commu - nity amenities and surface parking. It will feature one-, two- and three-bedroom units averaging 942 square feet. The property is located less than 10 minutes from downtown Williamsburg and the Col - lege of William and Mary, 20 minutes from Newport News, and proximate to a variety of employers including nearby military bases. GW Builders , a wholly- owned subsidiary of GW Real Estate Partners, is the general contractor. MAREJ

WILLIAMSBURG, VA — Berkadia has sourced a joint venture equity partner for GW Real Estate Partners , a ver- tically integrated multifamily development and construction firm, to build a new class A apartment community in Wil- liamsburg. Construction has already commenced on the $77 million, 265-unit garden-style “Montage at Marquis Apart - ments,” which is slated for delivery in May 2024. Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia JV Equity & Structured Capital secured the equity partner, a fund manager, which provided $27.7 million in equity behind $48.06 million in senior debt issued by Citizens Bank. Based in Charlottsville, VA, GW Real Estate Partners is a vertically integrated multi- family development and con- struction firm focused on select Mid-Atlantic and Southeast markets with strong supply and demand fundamentals. A second-generation real estate enterprise, GW Real Estate Partners and its related affili - ates have been active investors in the multifamily sector since the late 1980s. The principals have collectively acquired or developed more than 11,000 units totaling $2.4 billion in property value. “We were excited to work with the team at GW Real Estate Partners on their first development in Williamsburg, and after touring with them, felt confident in the need for new multifamily product in this market on account of many compelling demand drivers,” said Kirkpatrick.

team, consisting of Keith Wells, Mike Lowry, Reina Abboud , and Hunter Wood collaborated to arrange the $65 million refinance of Apex Plaza. Northmarq negotiated financing for the borrower through its relationship with a regional bank. The state-of-the-art 265,000 s/f mixed-use cross-laminated timber (CLT) property 151,000 s/f of office space, 102,000 s/f podium concrete parking structure with EV charging stations, and 6,800 s/f of retail space and is located at 100 Garrett St. in Charlottesville. The project, designed by world-renowned architect Wil - liam McDonough, represents the first large-scale mass tim - ber project in the Common - wealth of Virginia, the largest on the East Coast, and one of only a handful in the United States. The building features retail and office spaces adjacent to the Downtown Mall. The facility boasts 875 roof- and canopy-mounted solar pan- els, and the structure’s green

100 Garrett St. in Charlottesville

roof creates habitat to promote biodiversity and storm water retention. The solar panels are designed to produce as much electricity as lead tenant, Apex Clean Energy, consumes in a given year, leaving the compa- ny with net-zero electricity use. About Northmarq Northmarq is a full-service capital markets resource for commercial real estate inves- tors, offering seamless col- laboration with top experts in debt, equity, investment sales and loan servicing. We com - bine industry-leading capabil -

ities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transac - tion volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Mar - kets, Northmarq introduces clients to expanded opportu - nities across all major asset classes. MAREJ

Commercial Mortgage Capital handles $6.4M construction loan

G.S. Wilcox & Co. secures $17M loan for PA warehouse

“G.S. Wilcox & Co. is pleased to secure this financ - ing on behalf of our client.

EAST STROUDSBURG, PA — G.S. Wilcox & Co. an- nounced that it has arranged

The borrow - er and lend- er displayed tremendous teamwork and flexibil - ity to com- plete this transaction despite the various fac-

$17 million in construc- tion to per- manent fi- nancing for a 130,435 s/f ware - house build - ing in East Stroudsburg. The loan was

40 South Ave.

four affordable units and two retail units occupying 1,600 s/f. There will also be 27 parking spaces. 40 South Ave., developed and owned by 40 South Avenue In - vestors LLC, is ideally located near the Fanwood Train Station in Fanwood, New Jersey. Mark Scott is president of Commercial Mortgage Capi- tal . Scott brings over 35 years of commercial and mortgage bank - ing expertise to each project he

works on. Mark M. Scott, founder and principal, established Com - mercial Mortgage Capital Corp. (CMC) in 1996. Since then he has arranged over $11 billion of dollars of debt and equity for his clients. His focus over a 35-year career has been multifamily finance. Scott continues to expand CMC’s commercial lending platform in New Jersey and the Tri- State Region. MAREJ

FANWOOD, NJ — Mark Scott recently arranged a $6.4 million construction loan with Co nn e c - tOne Bank . The proposed development is a 33,000 s/f, three- story mixed use building containing a total of 24 market rate apartment units, Mark Scott

Wesley Wilcox

Al Raymond

tors impacting construction projects across the country,” said Wilcox in a prepared statement. G.S. Wilcox & Co. was found - ed by Gretchen S. Wilcox in 1994. MAREJ

arranged by Wesley Wilcox , partner, and Al Raymond , principal. The property fea - tures quick access to I-80 and several regional roadways. The loan was provided by a local banking institution.

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