Multifamily - Debt


NorthMarq’s Cincinnati office negotiates $10.5 million refinance of Postbrook East Apartments in Indianapolis, Indiana

CINCINNATI, OHIO (July 13, 2020) – Noah Juran, senior vice president/managing director in NorthMarq’s Cincinnati office finalized the $10.5 million refinance of Postbrook East Apartments. The 296-unit multifamily property is located at 9265 East 41st Street in Indianapolis, Indiana. The transaction was structured with a 10-year term with 1-year of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

“The borrower purchased this property in 2018 with the plan to create additional value and cash flow by renovating the property and implementing better property management. After the borrower successfully executed the ‘value-add’ of the property, NorthMarq contacted one of our best bank relationships for permanent financing. We worked closely with the lender to secure a 10-year fixed rate loan that refinanced the original acquisition-bridge loan. The borrower was thrilled with the loan that included a very low 10-year fixed rate and a 30-year amortization,” said Juran. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.