NorthMarq Capital's Cincinnati office arranges acquisition financing of $3 million for Eagles Watch Apartments in Cincinnati, Ohio
CINCINNATI (July 8, 2016) – Noah D. Juran, vice president of NorthMarq Capital’s Cincinnati-based regional office, arranged acquisition financing of $3,015,000 million for Eagles Watch Apartments, a 96-unit multifamily property located at 1868-1878 Sunset Avenue in Cincinnati, Ohio. The transaction was structured with a 10-year term with three years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. “This recently-renovated property was a perfect fit for the borrower's investment strategy,” said Juran. “NorthMarq was engaged to secure long-term, fixed-rate, non-recourse debt and close the loan within the contract deadline. We met the client's financing needs and investment criteria with a fully-leveraged 80 percent loan which included a 10-year fixed rate, 30-year amortization and three years of interest only payments.”
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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.
