NorthMarq Capital’s Cincinnati office arranges $3.5 million refinance of LivINN Hotel Sharonville in Cincinnati, Ohio

CINCINNATI (May 16, 2018) – Noah Juran, senior vice president of NorthMarq Capital’s Cincinnati regional office, secured the $3.5 million refinance of LivINN Hotel Sharonville, a 130-room hospitality property located at 11385 Chester Road in Cincinnati, Ohio. The transaction was structured with a 10-year term on a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “Given that many banks’ hotel lending allocations are full, conventional bank hotel financing is very difficult to place in today’s market, particularly for an out-of-state borrower and unflagged hotel,” explained Juran. “Our client needed to extract some equity from the subject property for another investment and we worked closely with one of our relationship banks to arrange a loan that met the client’s needs. Additionally, the borrower needed to close quickly and we closed the loan in only 32 days from the initial term sheet date.”