Northmarq Arranges $45M Financing for Bourbon Facility in Kentucky
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →
- 51 stories mentioning Northmarq on the wire in the past 90 days. Northmarq coverage →
Computed from Real Estate Trail’s own tracked coverage
Senior Vice President Randall Waddell of Northmarq’s Louisville office finalized a $45 million loan for The Blending House development, a collaboration between The Koetter Group and The Spirits Group located on a 108-…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Lodha Gurugram Office Project Tests a New Commercial Property Bet
Lodha Gurugram Office Project Tests Its NCR Expansion
FH One Buys Walnut Creek Office at 500 Ygnacio Valley Rd
New owner plans to convert Little Italy office tower into low-income housing
Weil, Gotshal’s Collapse Is Perfectly Timed for Manhattan’s Office Market
White-shoe law firm Weil, Gotshal & Manges, which was founded in 1931 and announced its intent to wind down operations this week, currently occupies around 447,000 square feet over 11 floors at BXP ’s General Motors B…