Northmarq arranges $7.183 million funding for the acquisition of Andersen RV Storage
Andersen RV Storage
CINCINNATI, OHIO (March 31, 2022) - Northmarq Cincinnati's managing director, Noah Juran, and vice president, Christina Grimme, secured $7,182,500 in financing for the acquisition of Andersen RV Storage, a 504 space RV and boat storage property in Boulder County, Colorado. The non-recourse loan is structured on a 5-year term with three years of interest-only before converting to a 25-year amortization schedule.
The bank lender was able to satisfy the borrower's request for 3-years of interest-only in order to complete their value creation plan and achieve full stabilization within the first few years of ownership.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
