Multifamily - Debt

NorthMarq Capital

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.”

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.