NorthMarq Capital’s Omaha office arranges $20.75 million refinance of 1010 on the Lake in Omaha, Nebraska

1010 on the Lake
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OMAHA (September 14, 2016) – John Reed managing director of NorthMarq Capital’s Omaha-based regional office, arranged the $20.75 million refinance of 1010 on the Lake, a 193-unit multifamily property located at 1010 N 192nd Street in Omaha, Nebraska. The transaction was structured with a 15-year term and 25-year amortization. NorthMarq arranged financing for Village Lake Apartments, LLC through its correspondent relationship with New York Life Insurance Company. “Our client wanted to catch a rally in Treasuries before 1010 on the Lake was stabilized. New York Life appreciated the quality of the asset and outstanding ownership/management,” said Reed. “Therefore, they committed to locking a great 15-year fixed rate at 75 percent occupancy. The structure worked well for our client and New York Life.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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