Northmarq Cincinnati closes the $3.175 million refinance of Kemper Commerce Park
CINCINNATI, OHIO (July 11, 2022) Christina Grimme of Northmarq Cincinnati closes on the $3,175,000 refinance of Kemper Commerce Park. The 145,485 sq. ft., two-building, partially owner-occupied, industrial-flex property is located at 7131 – 7209 East Kemper Road off I-71 in Cincinnati, Ohio.
The loan is structured on a 10-year term, 20-year amortization, and a competitive interest rate. Grimme worked with the repeat borrower and existing life company lender to source this deal. "The borrower had a prepayment penalty associated with their existing loan, but we were able to reduce their coupon by over 100 basis points and early rate-lock a fixed rate for a 10-year term. The deal terms gave the borrower plenty of incentive to refinance ahead of their maturity date," said Grimme.
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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.
