NorthMarq Capital secures $53,301,000 refinance of five properties located throughout Nebraska and Iowa

OMAHA (October 8, 2018) – Jason Kinnison, senior vice president of NorthMarq Capital’s Omaha regional office, arranged the $53,301,000 refinance of Bentley and Enclave (two multifamily properties located in Omaha, Nebraska), Highpointe and Old Cheney (located in Lincoln, Nebraska) and Park Avenue (located in Des Moines, Iowa. The five properties contain a total of 899 units. The fixed-rate loans were structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the five individual financings through its seller/servicer relationship with Freddie Mac. 

“These all were early refinances of existing Freddie Mac loans,” said Kinnison. “The borrower was able to justify prepaying their existing loans given favorable pooled pricing and treasury yields that were much lower than where they are today.”