NorthMarq’s Cincinnati office finalizes $3.525 million refinance of Main Street Crossing in Plainfield, Indiana
CINCINNATI, OHIO (April 18, 2019) – Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office negotiated the $3.525 million refinance of Main Street Crossing, a 27,000 sq. ft. retail property located at 120-154 North Perry Road in Plainfield, Indiana. The transaction was structured with a 15-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“Our client, an out-of-state investor, was looking to take advantage of the drop in interest rates and lock in a long-term, fixed rate. We spoke with a few life insurance companies about the deal and ultimately locked a 15-year fixed rate with a 25-year amortization schedule,” said Juran. “This was the 11th transaction closed in the past three years among the borrower and lender.”
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