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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.
- ◦Financing
