Northmarq’s Midwest Investment Sales team led by Anthony Martinez, Parker Stewart, Dominic Martinez and Alex Malzone — in collaboration with its Chicago Debt + Equity team led by Brett Hood — successfully arranged the $17.175 million sale and $13.779 million acquisition financing of Village at Grant Square, a 204-unit garden apartment located at 7349 Grant St. in Omaha, Nebraska.
Northmarq represented the seller, a New York-based private investment group. The property was acquired by an Illinois-based private investment group.
Northmarq arranged the permanent-fixed financing on behalf of the borrower through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a five-year term.
Built in 1974, Village at Grant Square sits on 8.31 acres and features eight residential buildings totaling 204 units across a mix of one- and two-bedroom floorplans. It also features a clubhouse, five garages and 324 surface parking spaces. Units include fully-equipped kitchens, large closets, ceiling fans and a private balcony or patio. Select units include updated finishes, vaulted ceiling and wood-look flooring.
Community amenities include a swimming pool, fitness studio, clubhouse with free Wi-Fi, business center, community dog park, picnic and grilling area, on-site management and maintenance, and laundry facilities.
The property benefited from more than $2.3 million in capital expenditures since 2017, including new roofs in 2019, HVAC and mechanical upgrades, common area improvements, and a clubhouse and fitness center remodel.
