Retail - Debt

Northmarq Cincinnati closes $8 million refinance of Fair Oaks Plaza in Fairfield, Ohio

CINCINNATI, OHIO (October 27, 2022) – Noah Juran, senior vice president/managing director of Northmarq’s Cincinnati debt/equity team arranged the $8 million refinance of Fair Oaks Plaza, a 157,000 sq. ft., five-building retail center that boasts 97 percent occupancy. The property is located at 5955-5965 Boymel Drive, Fairfield, Ohio in the Cincinnati MSA. 

Juran worked with this repeat client to refinance the acquisition loan he placed in 2020. Since purchasing the subject, the borrower significantly increased both occupancy and NOI, and was therefore seeking a return of equity from the refinance. Juran sourced a local bank relationship lender who provided the requested proceeds and a very attractive interest rate that they held since June, despite multiple rate increases during the loan closing period. The loan is structured on a 10-year term amortizing over 25-years.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.