Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranges permanent financing of $31 million for Encore Apartments in Cincinnati, Ohio

CINCINNATI (July 9, 2018) – Susan Branscome, senior vice president of NorthMarq Capital’s Cincinnati regional office, arranged permanent financing of $31,000,000 for 133-unit multifamily property located at 716 Sycamore Street, Cincinnati, Ohio. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life company. 

Encore Apartments is located in Cincinnati’s Central Business District with direct highway access, a variety of retail establishments, restaurants, bars and world-class entertainment venues. The apartment offers amenities such as a heated salt water pool, observation lounge, outdoor kitchen, pet spa, club room, and fitness center. 

“This is one of the best multi-family properties in downtown Cincinnati,” said Branscome. “We were able to secure a forward loan funding with a life insurance company allowing the borrower to lock the interest rate early and fund when the property leased up.” 

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.