Updated Oct 12, 2026
Capital Square Secures $86.5 Million Bridge Loan For 352-Unit Chasen Apartment Community In Richmond
2922 West Marshall Street
$86,500,000
Units
352
Asset Type
MultiFamily
Closing
Oct 7, 2026
About this deal
AI
The asset involved is a 352-unit multifamily apartment community located at 2922 West Marshall Street in Richmond, VA. The property is situated in Scott’s Addition and is receiving bridge financing of $86.5 million to support its operational establishment as it nears phased completion by early 2026.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $86,500,000
- Loan Type: Bridge
- Landlord: Capital Square
- Date of Loan: 10/07/2026
The financing was arranged by Walker & Dunlop, with key personnel involved in the transaction including brokers Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris, and Jared Diedrich.
On the Map
$86,500,000
MultiFamily
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Players
Richmond MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93