Arranges $16.2 million refinance for Elk Ridge Independent Living in Elkhorn, NE
Elk Ridge Independent Living
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.”
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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 $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
