Northmarq arranges $7.183 million funding for the acquisition of 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 a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
