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
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
