Retail (MT)
Debt & Equity

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.

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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Brannon Crossing Centre
Debt
$6,250,000