Multifamily - Debt


NorthMarq arranges acquisition financing for Genesis Apartments in Richmond, Indiana

CINCINNATI, OHIO (December 4, 2019) – Noah Juran, senior vice president of NorthMarq’s Cincinnati-based regional office arranged acquisition financing equal to 80% of the purchase price for Genesis Apartments. The multifamily property is located at 1023 23rd Street in Richmond, Indiana.   

Financing Details:
– 10-year term (3-years of interest-only)
– 25-year amortization schedule
– NorthMarq arranged financing for the borrower through its relationship with a regional bank. 

Property Details:
– The property contains 303 units. 
– The buyer will implement an extensive renovation plan.

Producer Testimony:
“This was an excellent acquisition for a repeat client of ours. The property was purchased at a very low basis and provides a tremendous opportunity to execute a value-add business plan. The acquisition and renovation financing was sourced through one of our close relationship bank lenders. It was a great loan for both the lender and borrower.”

– Noah Juran

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.