Noah Juran Of Northmarq Arranges $6.1M Refinancing Deal For 62.7K SF Ohio Retail Portfolio
1333 E Kemper Road Cincinnati, Ohio 45246, USA
$6,100,000
$97/SF
Building Size
62,720 SF
Asset Type
Retail
Closing
May 31, 2023
About this deal
AI
A $6.1 million refinancing deal was arranged by Noah Juran of Northmarq for a portfolio of four properties in Cincinnati. The portfolio, totaling 62,720 square feet, is 99 percent occupied and consists of retail assets. The properties are located at 6600 Dixie Highway and 1333 East Kemper Road in Fairfield and Cincinnati, Ohio.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,100,000
- Loan Type: Refinance
- Loan Terms: A permanent fixed-rate loan was structured on a three-year term with annual rate resets thereafter
The borrower in this deal received a return of equity, while the lender secured stable assets with strong cash flow.
Players
Cincinnati Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93