Office - Debt

NorthMarq’s Cincinnati office secures $5,800,000 refinance of Sharonview Corporate Center in Cincinnati, Ohio

CINCINNATI, OHIO (September 22, 2020) – Noah Juran, managing director of NorthMarq’s Cincinnati office arranged the $5.8 million refinance of Sharonview Corporate Center. The 160,000 sq. ft. office property is located at 11499 Chester Road in Cincinnati, Ohio. The transaction was structured with a fully amortizing 25-year term. The permanent-fixed loan was arranged for the borrower through NorthMarq’s correspondent relationship with a life insurance company. 

“This was a great loan for the borrower – they purchased the property in 2016 with the intent to increase occupancy and refinance into the permanent market. The plan came to fruition in 2020 as occupancy had increased 20 percent since purchase. We navigated COVID-19 and a lackluster permanent market for office properties to source a fantastic loan for the Borrower that included cash-out, limited recourse, and a fully amortizing 25-year loan term with the first 7 years fixed at 4.00 percent,” 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.