Northmarq secures $2.64 million acquisition loan for Trenton Avenue Apartments
CINCINNATI, OHIO (September 21, 2022) – Chase Dawson, vice president in Northmarq's Cincinnati regional office, sources $2,640,000 in financing for the acquisition of Trenton Avenue Apartments. The subject is a 52-unit multifamily property located in Trenton, Ohio within the Cincinnati/Dayton MSA.
The property comprises a combination of several noncontiguous buildings, initially limiting the potential lender options. Dawson capitalized on Northmarq's vast network of lender relationships to secure the loan with a regional bank. The loan boasts 80 percent LTV and a low, long-term fixed rate. It is structured on a 5-year term amortizing over 25-years.
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.
