NorthMarq Capital’s Cincinnati office completes $3 million refinance of Ferguson Woods Apartments
Ferguson Woods Apts
CINCINNATI (January 11, 2016) – Susan Branscome, senior vice president/managing director of NorthMarq Capital’s Cincinnati office finalized the $3 million refinance of Ferguson Woods Apartments, a 156-unit multifamily property located at 2890 Four Towers Drive in Cincinnati, Ohio. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “This refinance of bank debt allowed the borrower to eliminate his recourse, recapture equity placed in the property through the renovation,” said Branscome. “The 20-year fixed rate was very competitive allowing future cash flow to increase over many years to the owner.”
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.
