NorthMarq Capital’s Louisville office arranges $1.5 million refinance for Silver Run Centre in New Albany, Indiana
Silver Run Centre
LOUISVILLE (July 5, 2016) – Randall Waddell, senior vice president of NorthMarq Capital’s Louisville-based regional office, arranged the $1,475,000 million refinance of Silver Run Centre, an 11,355 sq. ft. retail property located at 2860-2880 Charlestown Road in New Albany, Indiana. The transaction was structured with a fixed rate 3-year term and 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. NorthMarq’s client was faced with the untimely loss of a tenant prior to the maturity of a CMBS loan. Waddell placed interim debt on the Kroger shadow-anchor center that provided one year of interest-only debt service along with an earn-out capability to fund re-tenanting costs.
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