NorthMarq Capital’s Cincinnati office completes $3 million refinance of Ferguson Woods Apartments
Ferguson Woods Apts
CINCINNATI (January 11, 2016) – Susan Branscome, senior vice president/managing director of NorthMarq Capital’s Cincinnati office finalized the $3 million refinance of Ferguson Woods Apartments, a 156-unit multifamily property located at 2890 Four Towers Drive in Cincinnati, Ohio. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “This refinance of bank debt allowed the borrower to eliminate his recourse, recapture equity placed in the property through the renovation,” said Branscome. “The 20-year fixed rate was very competitive allowing future cash flow to increase over many years to the owner.”
About Northmarq
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.
