NorthMarq arranges acquisition financing for Genesis Apartments in Richmond, Indiana
CINCINNATI, OHIO (December 4, 2019) – Noah Juran, senior vice president of NorthMarq’s Cincinnati-based regional office arranged acquisition financing equal to 80% of the purchase price for Genesis Apartments. The multifamily property is located at 1023 23rd Street in Richmond, Indiana.
Financing Details:
- 10-year term (3-years of interest-only)
- 25-year amortization schedule
- NorthMarq arranged financing for the borrower through its relationship with a regional bank.
Property Details:
- The property contains 303 units.
- The buyer will implement an extensive renovation plan.
Producer Testimony:
“This was an excellent acquisition for a repeat client of ours. The property was purchased at a very low basis and provides a tremendous opportunity to execute a value-add business plan. The acquisition and renovation financing was sourced through one of our close relationship bank lenders. It was a great loan for both the lender and borrower.”
- Noah Juran
Meet our team
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.
