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.”  

 

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.