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Colorado Springs Investment Firm Acquires Retail Building Near Cincinnati

TriPeaks Property Pays $10.75 Million for Part of Liberty Commons in Liberty Township
October 10, 2018
The 58,059-square-foot retail building at Liberty Commons shopping center in Liberty Township, Ohio.

Colorado Springs, Colorado-based TriPeaks Property purchased a 58,059-square-foot shopping center in Liberty Township, Ohio, from North Ridge Realty Group. The 4-Star building at Liberty Commons sold for $10.75 million, or about $185 per square foot.

The Class B property at 7302 Yankee Road was built in 2006. Spanning north of five acres, the building is less than 20 miles from University of Cincinnati.

Noah Juran and Dale Stewart with NorthMarq Capital arranged $7.17 million in acquisition financing on behalf of the borrower through its relationship with a national bank. The permanent-fixed loan was structured with a 10-year term on a 30-year amortization schedule.

“We leveraged NorthMarq’s national footprint to provide a high level of service to both the client and lender with local representation in two cities and ensure the deal closed as outlined in the loan application,” Juran said in a statement.

Joel Dumes and Stanton Falk with Marcus & Millichap represented the seller in the sale. Ryan Bowlby at Marcus & Millichap represented the buyer.

Please refer to CoStar COMP #4521867 for additional information regarding this transaction.

Editor's note: This article has been updated from an earlier version to reflect acquisition financing details.

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