The Role of Debt in Real Estate Syndications: An LP-Focused Discussion with Noah Juran of Northmarq

Описание: In this episode, Steve Seger, Director of Acquisitions and Investor Relations at SNS Capital Group, sits down acting as a hypothetical limited partner with Noah Juran of Northmarq to walk through one of the most important and often misunderstood components of a real estate syndication: debt.

LP-Focused Perspective
This discussion is designed to help investors better understand how debt functions inside a syndication and how financing decisions can impact long-term outcomes. The goal is clarity, not complexity, so LPs can evaluate opportunities with greater confidence.

Noah brings over 20 years of experience in commercial real estate finance and works directly with sponsors and lenders to structure multifamily debt across a wide range of transactions. His perspective offers limited partners a behind-the-scenes look at how lenders evaluate deals, how financing decisions are made, and how debt ultimately shapes risk and returns.

Throughout the conversation, Steve approaches the discussion from the seat of a limited partner, focusing on the questions LPs should be asking before investing and the factors that matter most when evaluating a deal’s financing structure.

What We Cover:
• A snapshot of today’s multifamily lending market and current underwriting standards
• How lenders approach heavy value-add deals versus stabilized assets
• Debt fundamentals, including leverage, DSCR, LTV, and recourse vs. non-recourse loans
• Fixed-rate versus floating-rate debt and how LPs should think about risk
• How leverage can amplify returns and where it becomes excessive
• What lenders evaluate during underwriting that LPs often overlook
• Red flags and green flags in a financing plan
• Prepayment penalties, yield maintenance, and refinance assumptions
• The top questions every LP should ask about debt before investing
• Noah’s View on the Risks and Opportunities in the Multifamily Debt Market Over the Next 5–10 Years

About SNS Capital Group
SNS Capital Group is a vertically integrated owner-operator focused on Class B and C multifamily assets throughout the Cincinnati market. With approximately 2,000 units under ownership, SNS emphasizes disciplined acquisitions, operational excellence, and long-term value creation for its investors.

Visit our Website to Learn More:
https://www.snscapitalgroup.com/

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