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.” 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.