NorthMarq completes $6,750,000 refinance for Encore and Grand Oaks Apartments in Indianapolis, Indiana

Encore & Grand Oaks Apts
Debt & Equity
Multi-Tenant
Multifamily
Permanent Loan - Fixed
Life Company
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CINCINNATI, OHIO (September 21, 2021) – Noah Juran, senior vice president/managing director of NorthMarq's Cincinnati office, arranged the $6,750,000 refinance for Encore Apartments ($2,675,000) and Grand Oaks Apartments ($4,075,000). These are 100-unit and 120-unit apartment communities respectively and are located in Indianapolis, Indiana. The transactions were structured with a 10-year term on a 25-year amortization schedule. NorthMarq secured financing for the borrower through its correspondent relationship with a life company.

"These were great loans for the Borrower as they locked in a very low 10-year rate (lower than their previous rate) and pulled some cash out", said Juran. "We worked closely with the incumbent correspondent life insurance company lender to re-cast the deals. Our lender was quite happy to keep these well-maintained, stable properties in their portfolio."

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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