Northmarq’s Cincinnati office arranges $6.3 million in acquisition financing for Executive Plaza III
CINCINNATI, OHIO (January 7, 2022) – Christina Grimme, vice president in Northmarq’s Cincinnati regional office, closed the $6,300,000 loan to finance the acquisition of Executive Plaza III, an 89,327 sq. ft. office building located at 135 Merchant Street in the Cincinnati MSA. The loan was structured on a 25-year term amortizing over 25 years. Northmarq arranged the financing through its relationship with a local bank.
"In a challenging office lending market, we were able to meet the client's needs for high leverage acquisition financing with an 80 percent LTV loan with future funding for TILCs," said Grimme. "The lender recognized the client's existing foothold in the submarket and was able to offer a competitive fixed-rate loan while meeting the client's close timeline."
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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.
