Multifamily
Debt & Equity

NorthMarq’s Cincinnati office completes $8 million refinance of Beech Grove Apartments in Jeffersonville, Indiana

CINCINNATI, OHIO (April 24, 2019) – Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office arranged the $8 million refinance of Beech Grove Apartments, a 182-unit multifamily property located at 3014 Beech Grove Court in Jeffersonville, Indiana. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

“We worked very closely with one of our correspondent life company lenders to arrange a fixed rate, non-recourse loan with a 10-year term and a 30-year amortization,” said Juran. “It was a typical life company execution; early rate lock at application and closed as quoted with no surprises. It was a great loan for both the borrower and the lender.”

Borrower quote
“From pre-application through closing, the loan process went very smoothly. Noah led us through the process and kept us apprised of the status along the way. After initially providing requested documents, Noah handled most lender requests without needing our involvement.  There were no surprises and the loan closed on time and with the terms and amount as initially proposed. Thanks Noah and NorthMarq.”

 

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.

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Beech Grove Apts
Permanent Loan - Fixed
$8,000,000