Multifamily - Debt

NorthMarq Capital

Northmarq Capital arranges refinancing of $4.75 Million for Ravenwood Apartments in Cincinnati, Ohio

CINCINNATI (June 11, 2018) –Noah Juran, senior vice president of Northmarq Capital’s Cincinnati regional office, arranged refinancing of $4,750,000 for Ravenwood Apartments consisting of 192 units, located at 2220 Westwood Northern Boulevard. The transaction was structured with a 20-year term (with 3-years of interest only) on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Freddie Mac. “The borrower purchased the property in 2016 and created additional value through property renovations, management efficiencies and increased rents. We refinanced the Borrower’s existing bank acquisition loan with a 10-year, fixed-rate, non-recourse loan that included cash-out to the Borrower. Additionally, we locked the interest rate on the refinance at loan application just prior to the increase in the 10-year Treasury yield which saved the Borrower almost 0.5 percent on the interest rate,” 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 $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.