CINCINNATI, OHIO (June 8, 2021) – Noah Juran, senior vice president/managing director of NorthMarq’s Cincinnati office, secured the $2.3 million refinance of two multifamily properties in Ohio. White Oak contains 40 units and is located at 1296 White Oak Road in Amelia, Ohio. Miami Hills contains 30 units and is located at 708 West Main Street in Loveland, Ohio. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“The deal was a low-leverage refinance of two apartment properties,” said Juran. “The borrower locked in a very low 10-year rate with a correspondent life company lender. The loan was approved in less than one week and closed in 60 days.”