John Reed, managing director of Northmarq’s Omaha debt/equity office, secured acquisition financing of $67.291 million for two multifamily properties containing a combined 588 units in the Omaha, Nebraska MSA.
The transactions were each structured with a seven-year term with three years of interest-only followed by a 30-year amortization schedule. Northmarq arranged the floating rate loan for the borrower, Hamilton Point Investments, LLC, through its Optigo status as a Freddie Mac lender.
Vantage at Coventry: Northmarq arranged acquisition financing of $31.672 million for Vantage at Coventry. The 294-unit/class-A property built in 2019 is located at 5575 South 206th Court in Elkhorn, Nebraska.
Vantage at Stone Creek: Northmarq finalized acquisition financing of $35.619 million for Vantage at Stone Creek. The 294-unit multifamily property built in 2019 is located at 6610 North 155th Court in Omaha.
The property offers residents three shopping centers within a five-minute drive, including Stone Creek Plaza (1.2 miles), West Point (1.9 miles), and Standing Bear Plaza (2.2 miles). The popular Glenn Cunningham Lake park is a little more than 10 miles away, and the property is only a short walk to Stone Creek Golf Course, Standing Bear Lake, and Flanagan Lake Park.
