Multifamily i Ohio

NorthMarq provides $31 million in financing for Cincinnati apartments

NorthMarq provides $31 million in financing for Cincinnati apartments,ph01

Susan Branscome, senior vice president of NorthMarq Capital’s Cincinnati regional office, arranged permanent financing of $31 million for a 133-unit multifamily property at 716 Sycamore St. in Cincinnati, Ohio.

The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life company.

Encore Apartments is located in Cincinnati’s Central Business District with direct highway access, a variety of retail establishments, restaurants, bars and entertainment venues. The apartment offers amenities such as a heated saltwater pool, observation lounge, outdoor kitchen, pet spa, club room and fitness center.