NorthMarq Capital arranges refinancing of $5 million for Village Green Townhomes in Fairfield, Ohio

CINCINNATI (August 9, 2018) – Noah Juran, senior vice president of NorthMarq Capital’s Cincinnati regional office, arranged refinancing of $5,000,000 for Village Green Townhomes consisting of 105-units located at 5247 Southgate Boulevard, Fairfield, Ohio. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. 

“While this was a refinance on a stable apartment deal, our client had a hard maturity date with a bank lender who was not flexible. We engaged one of our correspondent life insurance companies with only 45 days to get the loan closed,” said Juran. “We worked diligently with all parties to meet the borrower’s maturity date and close the loan on time. The borrower also locked in a very attractive 10-year fixed rate for this non-recourse loan.”