NorthMarq’s Noah Juran arranges acquisition financing of $8.15 million for 11-property multifamily portfolio
CINCINNATI, OHIO (July 24, 2019) – Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office secured acquisition financing of $8.15 million for Queen City Portfolio, a collection of 11 multifamily properties containing a combined 337-units. The properties are located throughout the Cincinnati MSA.
The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a local bank.
“The 11 properties range in size from 8-58 units and are located throughout the western side of Cincinnati, Ohio. While the borrower is based out-of-market and this was their first deal in Cincinnati, we were able to find just the right lender for the deal, a local credit union with whom we have a great relationship. The lender understood the collateral and provided a very competitive loan structure in a short period of time to win the deal,” said Juran.
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
