Dealmaker: Northmarq Negotiates $67M for Nebraska Multifamily
(Vantage at Stone Creek, Omaha, Neb.)
Northmarq’s Omaha, Neb., office secured $67.2 million in acquisition financing for Omaha-area multifamily properties.
Managing Director John Reed structured the transactions with a seven-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq arranged the floating-rate loan for borrower Hamilton Point Investments LLC through its Optigo status as a Freddie Mac lender.
“The opportunity to purchase an institutional-quality class A multifamily asset is extraordinarily infrequent in Omaha,” Reed noted. “Freddie Mac’s ARM structure was a very good fit for this acquisition in that it offers excellent leverage and prepayment flexibility.”
Northmarq arranged $31.6 million for Vantage at Coventry, a 294-unit class A property at 5575 South 206th Court in Elkhorn. The firm also finalized $35.6 million in financing for Vantage at Stone Creek, a 2019-vintage 294-unit property located at 6610 North 155th Court in Omaha.