Senior Housing - Debt

Arranges $16.2 million refinance for Elk Ridge Independent Living in Elkhorn, NE

OMAHA (Feb. 21, 2014) – Jason Kinnison, vice president of NorthMarq Capital’s Omaha based regional office arranged the $16.2 million refinance of Elk Ridge Independent Living, a 118-unit senior housing facility located at 19303 Seward Street in Elkhorn, NE. Financing for the facility was structured with a 18-year term and 18-year amortization and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company.

“The sponsors for the transaction were repeat customers for this life company lender,” said Kinnison. “Independent Living is not a property type that this lender will typically finance, but given the repeat business, coupled with the conservative loan parameters, the lender was willing to work with the borrower to get the loan done. This was a fully amortizing loan which was a key requirement of the borrower.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.