Bellwether Enterprise Real Estate Capital LLC closed a $43 million acquisition loan and a $12.8 million equity placement for Links at Lincoln, a workforce housing property in Lincoln, Nebraska.
Situated across more than 100 acres of land, Links at Lincoln features 612 one- and two-bedroom units of workforce housing. Located on the North side of Lincoln, the property boasts lake and pond views, and offers residents free membership to the onsite nine-hole golf course. Other amenities include a fitness center, tennis court, playground, hot tub, and tanning rooms. Individual apartments, which are pet friendly, also feature a patio or balcony, walk-in closets and vaulted ceilings.
The $43 million permanent acquisition loan was arranged by Phil Melton, executive vice president of Bellwether Enterprise and National Director of Affordable Housing & FHA Lending, and John Roberts, vice president of Bellwether Enterprise in the Dallas office. The seven-year, fixed-rate Freddie Mac loan featured interest-only for the first two years, providing the borrower with reduced debt service obligations while administering capital improvements to unit interiors and property amenities.
Additionally, Todd Johnson, vice president of Bellwether Enterprise in the New Orleans office and director of Equity Products, arranged the $12.8 million LP equity investment.
