GRAND ISLAND, NEB. — Dougherty Mortgage has provided a $3.8 million Fannie Mae loan for the refinancing of Cedar Ridge Apartments in Grand Island. The 64-unit, market-rate apartment property is comprised of four buildings. The 12-year loan features a 30-year amortization schedule. Cedar ridge Apartments-Grand Island LLC was the borrower.
OMAHA, NEB. — NorthMarq has secured a $4 million loan for the refinancing of New Keystone Apartments in Omaha. The 72-unit property is located at 7311 Wirt St. Josh Larsen of NorthMarq arranged the 10-year Freddie Mac loan, which features a 30-year amortization schedule and a fixed rate. The borrower was not disclosed.
NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and seller information was not disclosed.
MANHATTAN, KAN., ST. PETERS, MO. AND OMAHA — Knoebel Construction has completed new veterinary hospitals within existing Petco locations in Manhattan, Kan., St. Peters, Mo. and Omaha. Each 1,500 to 2,000-square-foot veterinary clinic features a reception area, four examination rooms, an x-ray room, surgery room and waiting room. SBLM and GPD Group served as the architects. Knoebel has also been selected to add veterinary hospitals within three additional Petco stores in the Las Vegas area.
OMAHA, NEB. — NorthMarq has arranged a $23 million Fannie Mae loan for the refinancing of ZAG Apartments in Omaha. Built in 2017, the 191-unit apartment complex is located at 5110 Mayberry St. The community features a 24-hour fitness center and outdoor lounge as well as close proximity to multiple city parks and bike trails. Josh Larsen of NorthMarq arranged the 10-year, fixed-rate loan, which features a 30-year amortization schedule.
NORFOLK, NEB. — Darland Construction Co. is nearing completion of a four-story, 130,000-square-foot medical office building in Norfolk in eastern Nebraska. The facility will be known as the Faith Regional Health Services South Medical Office. The first floor will include an outpatient surgery center with six operating rooms and more than 20 patient rooms. The orthopedics department will be housed on the second floor and feature 40 specialized exam rooms, multiple X-Ray rooms and staff offices. The third floor will include the women’s health and pediatrics departments. The fourth floor will be home to surgical specialties, including ear, nose and throat, gastroenterology, general surgery, pain management, rheumatology and urology. The building is connected by a skywalk to the main hospital campus. Completion is slated for later this year. Avant Architects is the project architect.
RALSTON, NEB. — NorthMarq has arranged a $1.4 million loan for the acquisition of Ralston Business Park in Ralston near Omaha. The 59,488-square-foot industrial property is located along 77th Street. Steve Ruff of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan.
OMAHA, NEB. — Grandbridge Real Estate Capital has provided an $88.3 million Freddie Mac loan for the refinancing of The Atlas Apartments in Omaha. The apartment complex was originally built as a hospital in 1977. NuStyle Development renovated the property into a 732-unit apartment property starting in 2018. Amenities include an indoor pool, fitness center, sand volleyball courts, conference rooms, clubhouses, bike storage rooms, grilling patios, a rooftop deck, rooftop pool and pedestrian bridge to Creighton University. Brett Olson and Jeff Witt of Grandbridge originated the 11-year loan, which features a fixed rate and a 30-year amortization schedule.
OMAHA, NEB. — CIT Group Inc. has agreed to acquire Mutual of Omaha’s savings bank subsidiary, Mutual of Omaha Bank, for $1 billion. CIT’s banking subsidiary, CIT Bank NA, will be used for the acquisition. The purchase price will be comprised primarily of cash and up to $150 million of CIT common stock. The transaction will diversify and enhance CIT’s funding profile with stable, lower-cost deposits from Mutual of Omaha Bank’s homeowner’s association banking business, according to New York City-based CIT. It is also expected to extend CIT’s commercial banking capabilities and enhance profitability. The transaction is expected to close in the first quarter of 2020. The agreement excludes Mutual’s mortgage subsidiary, Synergy One Lending. Founded in 1909, Mutual of Omaha offers a variety of insurance and financial products for individuals, businesses and groups throughout the United States. CIT Group Inc. (NYSE: CIT) is a financial holding company with approximately $50 billion in assets as of June 30.
LA VISTA, NEB. — HREC Investment Advisors has arranged the sale of the 120-room Hampton Inn & Suites in La Vista near Omaha. The hotel is located just south of I-80 near the Werner Natatorium Sports Complex that is currently under development. Mike Cahill, Mike Dubè, Scott Kaniewski and Jeff Preston of HREC represented the seller, Wisconsin-based North Central Group. The buyer group was led by Mike Works, the managing member of Nightcap Hospitality LLC, which has developed 20 hotels in Nebraska.
