Finance O Indiana

NorthMarq provides refinancing money for 182-unit apartment complex in Indiana

NorthMarq provides refinancing dollars for 182-unit apartment complex,ph01

Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office, arranged the $8 million refinance of Beech Grove Apartments, a 182-unit multifamily property at 3014 Beech Grove Court in Jeffersonville, Indiana.

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. It was a great loan for both the borrower and the lender.”