January 14, 2021
NorthMarq managing director John Reed secured the $24-million refinance of Flats at Shadow Creek. The 219-unit luxury multifamily property is located at 90th & O Street in Lincoln, NE.
The transaction was structured with a fully-amortizing 25-year term. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company. The property benefits from immediate access to anywhere in Lincoln, along with close proximity to I-80 and Omaha.
“Our correspondent life company was ready to execute right away on Shadow Creek and issued a great rate for this recently stabilized property,” said Reed.
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