Northmarq's Cincinnati office completes the $3,000,000 refinance of Bells Lake Apartments
CINCINNATI, OHIO (January 4, 2022) - Noah Juran, managing director in Northmarq's Cincinnati office, secured the $3,000,000 funding to refinance Bells Lake Apartments, a 72-unit apartment community located at 4820 Bells Lake Drive in Cincinnati, Ohio. The transaction was structured with a 10-year term amortizing over 30-years. Juran arranged the loan for a repeat client through a correspondent life company.
"The Borrower was looking to take advantage of the current low interest rate environment as the previous loan was set to mature in 2022. Northmarq was actively working the assignment while a life company lender was in Cincinnati visiting another asset. We toured the property with the lender, they quoted the deal upon returning to their office, and we had a signed application within one week," said Juran. "The Borrower took advantage of a drop in the 10-year Treasury and locked an extremely low 10-year fixed interest rate. The lender was thrilled to add this stable asset to their portfolio."
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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.
