NorthMarq Capital’s Omaha office arranges $6.093 million in acquisition financing for Abbington at Stones River in Murfreesboro, Tennessee

OMAHA (January 20, 2017) – John Reed, senior vice president/managing director of NorthMarq Capital’s Omaha-based regional office, arranged acquisition financing of $6,093,000 for Abbington at Stones River, a 96-unit multifamily property located at 1335 Bradyville Pike in Murfreesboro, Tennessee. The transaction was structured with an 18-year term with 2-years of interest-only, followed by a 35-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac. “This loan was financed through the Freddie Mac Tax-Exempt Loan Program which is an alternative to tax-exempt bond credit enhancement with 4% Low-Income Housing Tax Credits (LIHTC)The acquisition of Abbington, included a moderate rehab of the property. Freddie Mac funded 90 percent of the as-stabilized value, with a cash escrow that will be released upon stabilization. Freddie did an exceptional job understanding the Borrower's strategy and facilitating the preservation of this multifamily affordable housing,” said Reed.