Retail - Debt

NorthMarq Capital

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.” 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.