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.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
