Multifamily - Debt

NorthMarq Capital

NorthMarq’s Cincinnati office completes $1.8 million refinance of Oakhaven Apartments in Pataskala, Ohio

CINCINNATI, OHIO (January 10, 2018) – Noah Juran, senior vice president of NorthMarq’s Cincinnati regional office negotiated the $1.8 million refinance of Oakhaven Apartments, a 62-unit multifamily property located at 108 Oakmeadow Drive in Pataskala, Ohio. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac.  

“This was a great loan for the borrower in which they pulled out a significant amount of cash while lowering their interest rate,” said Juran. “The borrower locked the rate when they signed the loan application which was quite important as rates moved up over 30 basis points from the time of rate lock to closing. The transaction was a typical Freddie Mac deal that closed on time and with the same terms outlined in the loan application.”

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.