Noah Juran arranges $20.5 million acquisition financing for Maryland Trade Tower III in Greenbelt, Maryland

CINCINNATI, OHIO (August 29, 2019) – Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office secured acquisition financing of $20.5 million for Maryland Trade Tower III. The 192,000 sq. ft. office property is located at 7501-7503 Greenway Center Drive in Greenbelt, Maryland.

Financing Details:
• 5-year term (with 3-years interest only)
• 30-year amortization schedule
• Non-Recourse Bridge Loan
• NorthMarq was engaged to help finance this acquisition after the buyer's lender backed out of the deal and the buyer's purchase contract was rapidly approaching the expiration date.

Producer Quote:
“Once engaged, we quickly leveraged our national platform to pull together multiple competitive bridge quotes that would provide funds for both the acquisition and 'good news' leasing money. We chose a repeat, relationship bridge lender whom we knew would close the deal as outlined in the application. We worked quickly to get the deal under application and expedited the closing process to meet the deal deadlines. It was a great loan for the buyer who plans to lease-up and stabilize the property.”

- Noah Juran

Property Details:
• Parking Ratio: 3.00/1,000 sq. ft. (588 spots available)
• Class A 14-Story Property (built in 1989)
• Lot Size: 9.21 acres