Northmarq’s Cincinnati office arranges refinancing of $1.25 million for Morrison Avenue Apartments in Cincinnati, Ohio

CINCINNATI, OHIO (February 8, 2022) – Noah Juran, senior vice president/managing director of Northmarq’s Cincinnati office, refinanced Morrison Avenue Apartments for $1.25 million. The 20-unit multifamily property is located at 3217-3287 Morrison Avenue, Cincinnati, Ohio. The refinance was placed a 10-year term with a 30-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through an agency lender. 

The property is located less than a mile away from Good Samaritan Hospital. Surrounding the property are several restaurants, hotels and grocery stores. Fairview Park is also nearby (1.8 miles). Cincinnati Fitness Boxing is 1.5 miles away. Entertainment and recreational attractions are available such as the Dunore Park (.4 miles), TQL Stadium (3.9 miles), and Cincinnati Zoo & Botanical Garden (1.5 miles).

Community amenities include: on-site laundry. Apartment amenities include: renovated kitchens and bathrooms, balconies and incredible hardwood floors.

”The client was seeking a cash-out refinance, and we worked closely to lock in a low, 10-year, fixed interest rate while providing max cash-out proceeds,” said Juran. “The client was fortunate to lock the interest rate when he signed the loan application before the recent upward movement in Treasury rates.”