Retail - Debt

NorthMarq Capital arranges acquisition financing of $6.25 million for Brannon Crossing Centre in Nicholasville, Kentucky

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.

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.