March 11, 2020
NorthMarq’s Omaha-based John Reed and Bob Chalupa arranged the $19.29-million refinance of Wilderness Hills Flats, a 168-unit multifamily property in Lincoln, NE. The 15-year, interest-only loan was arranged via NorthMarq’s in-house Fannie Mae team.
“Wilderness Hills Flats is a recently completed, highly amenitized property,” said Reed. “NorthMarq arranged a Fannie Mae loan that allowed our good client to lock rate and close prior to stabilization.”
“Fannie Mae has an exceptional permanent financing execution when a property has achieved 75% occupancy on a strong leasing trajectory,” he continued. “Also, Fannie Mae’s ability to execute a 15-year interest-only loan materially improves property cash flow.”
Wilderness Hills Flats is situated in southwest Lincoln within the Wilderness Hills commercial development, offering access to upscale shopping and entertainment. Additionally, the property is located less than half a mile from South Point Pavilions, offering an additional 50-plus stores, restaurants and a movie theater.
For comments, questions or concerns, please contact Paul Bubny