CINCINNATI, OHIO (July 11, 2022) Christina Grimme of Northmarq Cincinnati closes on the $3,175,000 refinance of Kemper Commerce Park. The 145,485 sq. ft., two-building, partially owner-occupied, industrial-flex property is located at 7131 – 7209 East Kemper Road off I-71 in Cincinnati, Ohio.
The loan is structured on a 10-year term, 20-year amortization, and a competitive interest rate. Grimme worked with the repeat borrower and existing life company lender to source this deal. “The borrower had a prepayment penalty associated with their existing loan, but we were able to reduce their coupon by over 100 basis points and early rate-lock a fixed rate for a 10-year term. The deal terms gave the borrower plenty of incentive to refinance ahead of their maturity date,” said Grimme.