Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranges acquisition financing of $7.25 million via bridge loan for Postbrook East Apartments in Indianapolis, Indiana

CINCINNATI (October 19, 2018) – Noah Juran, senior vice president at NorthMarq Capital’s Cincinnati regional office, arranged acquisition financing of $7.25 million for Postbrook East Apartments, a 296-unit multifamily property located in Indianapolis, Indiana. The bridge loan was structured with a two-year interest-only term. NorthMarq arranged financing for the borrower through a bridge lender and was able to close the loan in just 40 days from the date of application.

“The out-of-state borrower engaged NorthMarq to source the loan for their first deal in the Midwest—a value-add multifamily transaction in Indianapolis, Indiana,” explained Juran. “This was a challenging deal due to a number of issues at the property and a tight closing timeframe. We sourced several competitive quotes for the borrower and proceeded with a relationship lender who took the time to understand the borrower, property and value-add business plan.”  

 

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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.