Retail - Debt

NorthMarq Capital

Noah Juran of NorthMarq’s Cincinnati office completes $2.5 million refinance off Houston Road Shoppes in Florence, Kentucky

CINCINNATI, OHIO (January 10, 2018) – Noah Juran, senior vice president of NorthMarq’s Cincinnati regional office finalized the $2.5 million refinance of Houston Road Shoppes, a 13,000 sq. ft. retail property located at 4960 Houston Road in Florence, Kentucky. 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. 

“The borrower’s previous loan was maturing and the incumbent lender was unable to provide acceptable refinance terms,” said Juran. “We worked with one of our correspondent life company lenders to arrange a fixed rate, non-recourse loan on a 20-year fully amortizing basis. It was a typical life company execution; early rate lock at application and closed as quoted with no surprises. It was a great loan for both the borrower and the lender.”

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.