CINCINNATI (February 1, 2016) – Randall Waddell, senior vice president of NorthMarq Capital’s Louisville office and Noah Juran, vice president of NorthMarq Capital’s Cincinnati office collaborated to arrange acquisition financing of $6.25 million for Brannon Crossing Centre, a 88,000 sq. ft. retail property located on East Brannon Road in Nicholasville, Kentucky. The transaction was structured with a 3-year term with 1.5-years interest only followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. Hobby Lobby represents the property’s major tenant.
“The transaction featured 18 months interest-only followed by a 3-year term with a 25-year amortization schedule at the variable rate of Prime + .25 percent floating,” said Waddell. “There is no refinance or prepayment fee after the first 18 months.”
“We appreciate Randy Waddell in that he and the NorthMarq team were able to procure very favorable financing within a short time frame allowing us to be in a position to close when needed,” said Clay Thomas of West Acres, LLC.