Retail - Debt

NorthMarq’s Louisville office negotiates $2.2 million refinance of Indian Mounds Retail Center in Mount Sterling, Kentucky

LOUISVILLE, KENTUCKY (April 22, 2021) – Randall Waddell, senior vice president of NorthMarq’s Louisville regional office arranged the $2.2 million refinance of Indian Mounds Retail Center. The 46,900 sq. ft. retail property is located at 810-890 Indian Mound Drive in Mount Sterling, Kentucky. The transaction was structured on a 10-year term with a 15-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. 

The center shadow-anchors Kroger’s only location in this market area.  The refinance, which was necessitated by the maturity of the existing mortgage loan, was delayed as a result of Covid-induced store closures last spring.  “An important part of our assignment regarded working with the existing lender to extend the note maturity date to enable our tenants to successfully re-open. We were then able to place this debt with a local funding source with superior pricing for our client,” said Waddell.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.