Multifamily - Debt

NorthMarq secures $13 million refinance of Ontario Place Apartments in Omaha, Nebraska

OMAHA, NEBRASKA (March 20, 2020) – John Reed, managing director of NorthMarq’s Omaha-based regional office, arranged the $13 million refinance of Ontario Place Apartments. The 156-unit multifamily property is located at 7325 Ontario Street in Omaha, Nebraska. 

The transaction was structured with a 10-year term (with 2-years of interest-only) followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company. 

“This is a core multifamily asset and we were able to secure an outstanding 3.32 percent rate for our good client,” said Reed.   

Property Details:
– Apartment amenities include: One and two-bedroom floor plans, fully equipped kitchen, private patio/balcony, kitchen pantry, city views, built-in shelving, window coverings, entry and linen closets, cable/internet ($85/month), granite countertops, washer/dryer, large walk-in closets, vaulted nine-foot ceilings, separate dining room, large bathrooms (with oversized tub), track lighting, celling fan(s) and carpeting/tile flooring. 
– Community amenities include: Swimming pool, clubhouse with full kitchen, controlled access, close proximity to UNO and Creighton, smoke-free, 24-our fitness center, professional business center, convenient elevator access, detached and attached garages available, near Interstate 80, close to public transportation and short-term leases available. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.