IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, announced the $72.24 million refinance of La Vista City Centre, a master-planned multifamily, office and retail development in La Vista, Nebraska.
Frank Montalto, IPA Capital Markets managing director based in the firm’s Chicago office, secured the financing on behalf of City+Ventures, a Nebraska-based investment and development company that partnered with the City of La Vista beginning in 2015 for the development of the community.
Terms of the seven-year loan include full-term interest-only at cost of funds plus 1.75% and a loan-to-value of 70%.
La Vista City Centre features the Vivere Apartments complex consisting of 392 luxury units ranging from studios to two bedrooms, 32,878 square feet of retail space, and 64,883 square feet of office space. Located adjacent to the Vivere Apartments is The Astro, an indoor and outdoor music venue, and a 34-acre park.
