OMAHA, NEBRASKA (February 10, 2019) – John Reed, senior vice president/managing director of NorthMarq Capital’s Omaha regional office, secured the $21 million refinance of Tranquility Pointe Apartments, a 230-unit multifamily property located at 4202 North 126th Court in Omaha, Nebraska. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
The luxury apartment community is located in close proximity to two large parks (Tranquility Park and Hefflinger Park), Eagle Run Golf Course, the OPPD Arboretum and numerous elementary, middle and high schools. Apartment amenities include: deck; door-to-door pick-up for recycling; double vanities; heated swimming pool; pantry; vaulted ceilings; high speed internet access, washer/dryer hookup; air conditioning; cable ready; alarm; tub/shower; fireplace; intercom; sprinkler system and walk-in closet. Community amenities include: fitness center; free weights; sauna; pool; playground; basketball court; controlled access security; property manager on-site and storage space.
“Tranquility Pointe and Pointe Management are excellent operations. Freddie Mac appreciates long-term relationships and provided excellent terms. The team did a great job locking this loan quickly and delivering a smooth closing, as agreed,” said Reed.