CINCINNATI (May 11, 2016) – Susan Branscome, senior vice president/managing director of NorthMarq Capital’s Cincinnati-based regional office arranged acquisition financing of $4.935 million for Plow & Hearth Vandalia Distribution Center, a 192,910 sq. ft. industrial property located at 6400 Sand Lake Drive in Vandalia, Ohio. The transaction was structured with a 10-year term and 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a commercial bank. Plow & Hearth represents the property’s major tenant.
“We were able to close this 1031 tax-free exchange purchase by meeting all of the deadlines with a commercial bank,” said Branscome.