CINCINNATI, OHIO (July 9, 2020) –Noah Juran, managing director of NorthMarq’s Cincinnati office arranged acquisition financing of for The Guardian Apartments. The 89-unit multifamily property is located at 3375 McHenry Avenue in Cincinnati, Ohio. The transaction was structured with a 7-year term on a 25-year amortization schedule. NorthMarq secured the permanent-fixed loan for the borrower through its relationship with a local bank.
“This acquisition began right at the beginning of the Coronavirus pandemic so sourcing a loan that met the borrower’s requirements was a challenge. We sourced several loan proposals and ultimately arranged a tremendous loan with a relationship lender. We were fortunate to be working with a relationship lender during an uncertain economic period who closed the deal as outlined in the loan application and on time. It was a great deal for both the borrower and the lender,” said Juran.