Industrial - Debt

Northmarq Cincinnati closes the $3.175 million refinance of Kemper Commerce Park

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.

 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.