Northmarq arranges the sale and acquisition financing of Jeff on 10th apartments in Jeffersonville, IN
Photo source: CoStar
JEFFERSON, Ind. — Northmarq’s Investment Sales team led by Bobby Schiavone, Adam Klenk and Jordan Arand — in collaboration with its Debt + Equity team led by Noah Juran and Brendan Barker — successfully led the sale and acquisition financing of Jeff on 10th, a 190-unit mid-rise multifamily community located at 3500 Ellingsworth Dairy Dr. in Jeffersonville, Indiana.
Northmarq represented the seller, a regional multifamily developer, in the transaction. The buyer was S&S Properties Investment.
"Jeff on 10th represented a rare opportunity to acquire a best-in-class, recently constructed multifamily community in one of the fastest-growing submarkets within the Louisville MSA. The property's exceptional quality, strategic location and proximity to major employers such as River Ridge generated significant investor interest throughout the marketing process. We continue to see strong demand for well-located, institutional-quality assets across Southern Indiana & Louisville, and by combining the expertise of our Investment Sales and Debt + Equity teams, we were able to deliver a successful execution for both the seller and buyer." Schiavone said.
Northmarq arranged the permanent-fixed financing on behalf of the borrower, S&S Properties Investment, through the firm’s Fannie Mae DUS platform. The transaction was structured on a seven-year term.
“The closing of this sale and financing illustrates Northmarq’s cohesive platform,” Juran said. “Working together with the borrower and our IS team, we successfully processed the Fannie Mae loan on time and as outlined in the loan application. In cooperation with our in-house Fannie Mae team, we secured very competitive terms including full-term interest only and an extremely aggressive interest rate. This was a win-win for the borrower and Northmarq.”
Built in 2022, Jeff on 10th offers a mix of studio, one- and two-bedroom units featuring spacious floor plans, premium finishes and private balconies. The community delivers a best-in-class amenity package including a resort-style swimming pool, 24-hour fitness center, outdoor grilling areas, community fire pits, a conference center and a 24-hour pet spa.
Located just north of Louisville, Kentucky on E 10th Street and situated between I-65 & I-265, Jeff on 10th benefits from excellent roadway visibility and provides direct access to Southern Indiana & Louisville’s major employers, premier retailers, entertainment venues, and key economic drivers including River Ridge – a 6,000 acre, 20 million SF campus employing nearly 20,000 people with $3B in Economic Output.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
