Northmarq’s Debt + Equity team arranges $21.6M Fannie Mae financing for The Cosgrove in Omaha
OMAHA, Neb. — Northmarq’s Omaha-based Debt + Equity team, led by John Reed, has arranged $21.6 million in Fannie Mae refinancing for The Cosgrove, a 173-unit Class A mid-rise multifamily property located at 3814 Leavenworth St. in Midtown Omaha.
Northmarq secured the permanent fixed-rate loan on behalf of the borrower through the firm’s in-house Fannie Mae DUS platform.
“Fannie Mae was able to deliver an exceptional rate on this seven-year fixed rate loan structured with four years of interest only. Furthermore, we were able to leverage Tax Increment Financing into the first mortgage, which is accretive to property cash flow and improves the overall capital structure,” said Reed.
Built in 2023, The Cosgrove offers spacious studios and one- and two-bedroom apartment homes with nine-foot ceilings, in-unit washer and dryer, stainless steel appliances and designer faux wood flooring. Community amenities include heated garage parking, fitness center, community room, dog washing station and more.
The property is located along the rapidly growing Leavenworth Street Corridor, anchored by the University of Nebraska Medical Center and the Blackstone District, one of Omaha’s most successful infill redevelopment areas. The property’s Midtown location offers strong access to employment centers, dining and entertainment.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
