Navy YMCA, Norfolk, Virginia

Octagon funded a $2.4 million bridge loan to the Navy YMCA in Norfolk, Virgina. The loan included a term of 24 months was collateralized by state historic tax credits only. The rehabilitation converts the building into the Rockefeller, an 86-unit apartment which utilizes historic exercise and recreation spaces for tenant amenities.

This impressive building, noted for its classic Beaux-Arts style, opened in 1909. It served as a vital center for service members stationed in Norfolk, offering recreational facilities, social spaces, and support services. The construction was made possible through a gift from philanthropist John D. Rockefeller.