NorthMarq Capital’s Cincinnati office arranges financing for two multifamily properties totaling $1.67 million
Two Multifamily Properties
CINCINNATI (June 21, 2016) – Noah D. Juran, vice president of NorthMarq Capital’s Cincinnati regional office, arranged $1.67 million in financing for the following two multifamily properties in Ohio. Shayler Brook Apartments – Refinancing of $900,000 was arranged for Shayler Brook Apartments, a multifamily property located at 1101-1105 Shayler Road, Batavia, Ohio. The transaction was structured with a 25-year term and 25-year amortization schedule and also included a 6-month forward rate lock. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Vendome Apartments – Acquisition financing of $772,800 was secured for Vendome Apartments, a 26-unit multifamily property located at 4225 Vendome Avenue, Cincinnati, Ohio. The transaction was arranged for an out-of-market buyer and structured at 80 percent loan-to-cost with a 10-year term with 1-year interest only followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
