NorthMarq’s Cincinnati office secures $4.3 million refinance of South Pioneer Industrial in Springboro, Ohio

CINCINNATI, OHIO (March 27, 2019) – Senior Vice President/Senior Director of NorthMarq’s Cincinnati-based regional office Noah Juran negotiated the $4.3 million refinance of South Pioneer Industrial, a 131,000 sq. ft. industrial property located at 405 South Pioneer Boulevard in Springboro, Ohio. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank.  

“This was a challenging deal as we were working with a Canadian-based borrower on this single-tenant property,” said Juran. “The owner purchased the property only a year prior yet wanted to extract a substantial amount of equity. We worked very closely with a local relationship lender who got comfortable with a corporate guarantee structure and the cash-out requirement.”