CINCINNATI, OHIO (February 18, 2021) – Noah Juran, senior vice president/managing director of NorthMarq’s Cincinnati office secured acquisition financing of $4.735 million for Diplomat Retail Portfolio. The six-properties consist of 96,870 sq. ft. and are a located at 6600 Dixie Highway, Fairfield, Ohio; 6560 Dixie Highway, Fairfield, Ohio; 6570 Sosna Drive, Fairfield, Ohio; 6580 Dixie Highway, Fairfield, Ohio; 5130 Camelot Drive, Fairfield, Ohio; 1333 E. Kemper Road, Springdale, Ohio. The transaction was structured with a 10-year term followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank.
“This was a great acquisition loan for our client as the lender pool was very limited due to the retail property type and out-of-state buyer. We worked closely with a repeat local lender relationship to source an aggressive loan for our client,” said Juran.