Northmarq arranges $2.4 million refinance of Incline Ridge Apartments in Cincinnati, Ohio
CINCINNATI, OHIO (March 21, 2022) - Noah Juran, managing director of Northmarq's Cincinnati regional office, secured $2,400,000 for the refinance of Incline Ridge Apartments, a 30-unit apartment community in the Cincinnati MSA. Incline Ridge Apartments offers impressive skyline views of downtown Cincinnati. The deal was structured on a 10-year term amortizing over 30 years and was arranged through Northmarq’s relationship with Freddie Mac. Juran sourced the acquisition financing for the Borrower in 2018 and since purchasing the property, the borrower completed significant interior unit renovations.
"This was a great loan for the borrower as it was structured on a non-recourse basis with a 10-year fixed rate and 30-year amortization. Additionally, the borrower was fortunate to lock their interest rate when they signed the loan application as interest rates rose 25-30 basis points during the loan closing process," said Juran.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
