NorthMarq Capital's Cincinnati office arranges acquisition financing of $3.82 million for Houston Lakes Retail Center in Florence, Kentucky

CINCINNATI (July 6, 2016) – Noah D. Juran, vice president of NorthMarq Capital’s Cincinnati-based regional office, arranged acquisition financing of $3.82 million for Houston Lakes Retail Center, a 50,000 sq. ft. retail property located at 87 Spiral Drive in Florence, Kentucky. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “We were able to secure a 10-year term loan with 80 percent LTC for an out-of-market borrower,” said Juran. “The lender did not require an ongoing replacement reserve which was very important to the borrower. Overall, the loan structure was very competitive and met the borrower’s financing needs and investment objectives.”