NAI Global Capital Markets Affiliate Wins Financing Deal of the Year Award for Fourth Consecutive Year

Mid-Atlantic Real Estate Journal Recognizes NAI Bluestone for Securing $44 Million Construction Loan

NAI Bluestone Real Estate Capital, NAI Global’s capital markets affiliate, has been recognized with one of the 2009 “Financing Deals of the Year” by the Mid-Atlantic Real Estate Journal for its role in securing a $44 million senior construction loan for The District at ODU, a 909-bed student housing facility in Norfolk, Virginia. This marks the fourth consecutive year NAI Bluestone has been awarded this honor, which recognizes the top financing deals in the Pennsylvania, New Jersey, Delaware, Maryland and Virginia region.

The District at ODU is a four-story, 307-unit, 909-bed student housing facility located within walking distance of Old Dominion University, one of the nation’s fastest growing universities. The loan was secured on behalf of Norfolk Housing, LLC, an affiliate of a national real estate development company. To finance The District at ODU, NAI Bluestone secured a $44 million variable rate bond representing 65% of the stabilized value. The initial construction terms interest rate is below 4% and will convert to a 10-year permanent mortgage with a sub 7% fixed interest rate amortized over 30 years.

NAI Bluestone provides capital solutions for private and institutional property owners, developers and investors in major markets throughout the U.S. For more information on NAI Bluestone, visit www.naibluestone.com.

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