Northmarq Arranges $30M Refi on Omaha-Area Apartments
Brett Hood, SVP/managing director of Northmarq’s Chicago debt/equity team, arranged the $29.86-million refinance of Fontenelle Hills. The 36-building/339-unit multifamily property is located on 42 acres of wooded land at 200 Martin Drive in Bellevue, NE, a suburb of Omaha.
The transaction was structured with a 15-year fixed rate term with interest-only payments throughout. Northmarq negotiated the permanent-fixed loan for the borrower through its Optigo status as a Freddie Mac lender.
“The sponsor took advantage of Freddie Mac’s early index lock feature locking in the underlying 10-year Treasury yield before this month’s unprecedented rate movement,” said Hood. “This transaction followed a $199-million portfolio refinance closed for the same sponsor several months ago.”
The property is nestled in the South Omaha neighborhood between green spaces and the Missouri River, and greater Omaha via I-75.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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