Northmarq’s Chicago Debt + Equity team led by Kevin McCarthy, Jeff Frankel and Alex Czachor collaborated with Jason Kinnison of the Omaha office to successfully finalize the refinancing of Brickline at The Mercantile in Omaha, a luxury multifamily property, with a loan of $75.549 million.
Completed in 2023, the property is situated in the heart of downtown Omaha, Nebraska, and encompasses 379 units, along with commercial space leased to three different restaurant/entertainment concepts.
Northmarq, representing the joint venture sponsor of Hines and Cresset Real Estate Partners, arranged an 8-year, full-term interest-only loan featuring a flexible prepayment option starting after the sixth year. The project benefited significantly from Hines’ commitment to sustainable construction practices, achieving two Green Globe certifications during its development.
Located within a Qualified Opportunity Zone, Brickline at The Mercantile is a “city-defining” addition to downtown Omaha, revitalizing the community and offering an ideal downtown living experience.
Constructed in 2023, Brickline at The Mercantile offers an extensive range of unit types, providing tenants with top of the line in-unit finishes and best in class amenities. Amenities include a resort-style pool, golf simulator, fitness center, yoga studio, EV charging stations, co-working spaces and a new live/work unit concept, creating a distinctive community for its residents.
