IPA Capital Markets, a division of Marcus & Millichap, announced the $31,610,000 million refinancing of The Flats at Leighton District, a 234-unit multifamily property with ground-level Class-A retail spaces, lat 4630 Leighton Ave. in Lincoln, Nebraska.
Frank Montalto, managing director in IPA’s Chicago office, secured the financing with a national bank on behalf of the client, a Midwest-based development, ownership and management firm. The loan features a 5-year term, full-term interest-only, and fixed rate execution at a 6.28% interest rate.
The property is located near University of Nebraska-Lincoln East and City campuses, Nebraska Wesleyan University, and Southeast Community College. It offers a mix of studio to three-bedroom units as well as private-entry loft floor plans. Amenities include a resort-style pool and sundeck, controlled-access parking, bike storage, community lounges, a study room, barbeque area and a 24-hour fitness center.
