NorthMarq negotiates acquisition financing for The Guardian Apartments in Cincinnati, Ohio

CINCINNATI, OHIO (July 9, 2020) –Noah Juran, managing director of NorthMarq’s Cincinnati office arranged acquisition financing of for The Guardian Apartments. The 89-unit multifamily property is located at 3375 McHenry Avenue in Cincinnati, Ohio. The transaction was structured with a 7-year term on a 25-year amortization schedule. NorthMarq secured the permanent-fixed loan for the borrower through its relationship with a local bank.  

“This acquisition began right at the beginning of the Coronavirus pandemic so sourcing a loan that met the borrower's requirements was a challenge. We sourced several loan proposals and ultimately arranged a tremendous loan with a relationship lender. We were fortunate to be working with a relationship lender during an uncertain economic period who closed the deal as outlined in the loan application and on time. It was a great deal for both the borrower and the lender,” said Juran.