CINCINNATI (April 13, 2015) – Susan Branscome, managing director of NorthMarq Capital’s Cincinnati based regional office arranged the refinancing of two properties in Hebron and Wilder, Kentucky totaling a combined $18.1 million.
Aspen Pines Apartments: This 245-unit class “A” multifamily property, located at 1700 Aspen Pines Drive in Wilder, Kentucky was refinanced at $16.8 million. The transaction featured an excellent interest rate. NorthMarq arranged financing for the borrower, through its relationship with PPM.
“PPM and this borrower have a longstanding relationship and PPM offered excellent loan terms to the borrower,” noted Branscome.
Shoppes at Worldwide Park: This 13,174 sq.ft. unanchored retail property, located at 2010 N. Bend Road in Hebron, Kentucky was refinanced at $1.3 million. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra.
“Symetra does a great job of seeing the value in unanchored retail,” said Branscome.