Northmarq’s Chicago office completes $29,860,000 refinance of Fontenelle Hills in Bellevue, Nebraska

Omaha, Nebraska (September 28, 2022) – Brett Hood, senior vice president/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, Nebraska. 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. Three institutions of higher learning surround the property, including: Bellevue University (1.7 miles), Metro C.C. of Omaha (5.4 miles), and University of Nebraska Medical (9.6 miles). Residents can access shopping and retail opportunities, with three centers being within 1.6 miles. And for those looking to access the areas natural resources, the property has five parks within 10.7 miles. 

Community amenities include: Laundry facilities, maintenance on site, property manager on site, fitness center, pool, basketball court and walking/biking trails. Apartment amenities include: High-speed internet access, washer/dryer hookup, air conditioning, heating, ceiling fans, cable ready, storage units, tub/shower, fireplace, dishwasher, disposal, eat-in kitchen, oven, range, refrigerator, carpet, dining room, basement, walk-in closets, loft layout, window coverings, balcony, patio, yard and lawn.