April 26, 2019
SVP Noah Juran with NorthMarq’s Cincinnati-based regional office has arranged the $8-million refinance of Beech Grove Apartments, a 182-unit multifamily property in the Louisville, KY suburb of Jeffersonville, IN.
The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“We worked very closely with one of our correspondent life company lenders to arrange a fixed rate, non-recourse loan with a 10-year term and a 30-year amortization,” said Juran.
“It was a typical life company execution: early rate lock at application and closed as quoted with no surprises,” he added. “It was a great loan for both the borrower and the lender.”
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