North Pointe Villas

Property Name: North Pointe Villas
Location: Lincoln, NE
Property Type: Apartment/Multi-Family
Transaction Type: Acquisition Financing
Loan Amount: $12,400,000
Details: $12,400,000 in permanent financing was acquired for North Pointe Villas, a 137-unit apartment complex located in Lincoln, Nebraska. Our correspondent life insurance company provided a 25-year fixed rate financing without reserves or escrows. The loan was committed and rate locked prior to completion and qualified for funding at just over 85% occupancy. It is a true non-recourse loan with no personal liability for exclusions to the typical non-recourse language. The loan also featured intra-partnership transfers, a one-time right of assumption and an allowance for subordinate financing.
More Info: Bob Chalupa at 402-384-5223 or contact me