NorthMarq Capital’s Cincinnati office arranges acquisition financing of $2.4 million for Riverside Shops of Salem in Salem, Indiana
CINCINNATI (January 19, 2017) – Noah D. Juran, vice president of NorthMarq Capital’s Cincinnati-based regional office, arranged acquisition financing of $2.4 million for Riverside Shops of Salem, a 46,700 sq. ft. retail property located at 405 South Main Street in Salem, Indiana. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “Our client, an out-of-state investor, needed maximum loan proceeds for this property acquisition,” said Juran. “We leveraged our relationship with a regional bank and successfully overcame two roadblocks on the deal to source a fantastic loan for the borrower which included an 80 percent LTV, a very competitive 5-year fixed rate and a 25-year amortization schedule.”
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