Multifamily - Debt

NorthMarq’s Omaha office completes $24,759,000 refinance of Spring Creek Apartments Phase I in Sioux Falls, South Dakota

OMAHA, NEBRASKA (October 18, 2021) – John Reed, senior vice president/managing director of NorthMarq’s Omaha office negotiated the $24,759,000 refinance of Spring Creek Apartments Phase I. The 219-unit multifamily property is located in Sioux Falls, South Dakota. The transaction was structured with a 10-year fully-amortizing term with 3-years of interest-only payments. NorthMarq arrange the permanent-fixed loan for the borrower through its Optigo status as a Freddie Mac lender. 

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.