Finance i Ohio

NorthMarq provides $2.45 million of financing for Ohio apartment property

NothMarq provides $2.45 million of financing for Cincinnati apartment,ph01

Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office, arranged acquisition financing of more than $2.45 million for Spring Creek Apartments, a 66-unit multifamily property at 475 Gilpin Road in Springboro, Ohio.

The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the non-recourse, fixed-rate loan for the borrower through a permanent lender. The property benefits from close proximity to downtown Springboro, excellent shopping/dining opportunities at Austin Landing, easy access to I-75 and I-675 and Springboro schools.

Apartment amenities include kitchen, refrigerator, cat-friendly policy with additional deposit, dog-friendly policy based on breed and application/additional deposit, open floor plans, high-speed internet, air conditioning and tub/shower. Community amenities include: property manager on-site, pool, sundeck, laundry facilities, pet play area and smoke-free environment.