Wednesday, May 14, 2025
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Affordable HousingLoansMidwestMultifamilyNebraska

Dougherty Provides $2.1M Fannie Mae Loan for Refinancing of Affordable Housing Property in Nebraska

by Kristin Harlow

NORTH PLATTE, NEB. — Dougherty Mortgage has provided a $2.1 million Fannie Mae loan for the refinancing of Pacific Place Apartments in North Platte. The 64-unit affordable housing property is situated on 3.8 acres in central Nebraska. Built in 1997, the property includes two buildings with a children’s playground and two laundry facilities. The 10-year loan, under Fannie Mae’s Multifamily Affordable Housing program,  features a 30-year amortization schedule. North Platte Housing Partners LLC was the borrower.

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LoansMidwestNebraskaOffice

NorthMarq Arranges $3.5M Refinancing for Office Park in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — NorthMarq Capital has arranged a $3.5 million loan for the refinancing of Lincolnshire Office Park in Lincoln. The four-building property spans 52,620 square feet and is located at 1530 S. 70th St. Steve Ruff of NorthMarq arranged the loan, which is fully amortized over 18 years. A life insurance company provided the loan. The borrower was not disclosed.

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LoansMidwestMultifamilyNebraska

Hunt Real Estate Capital Provides $24.7M Bridge Loan for Acquisition of Multifamily Property in Omaha

by Kristin Harlow

OMAHA, NEB. — Hunt Real Estate Capital has provided a $24.7 million bridge loan for the acquisition and renovation of a multifamily property in Omaha. The 408-unit garden-style property, located at 10535 Ellison Plaza, is 94 percent occupied. The complex, originally built in 1973, comprises 17 buildings and a two-story leasing office and clubhouse. The loan includes $4 million for interior and exterior improvements. The undisclosed borrower plans to add amenities such as a business center, fitness center, sports court, pet washing station, dog park and playground. Interior improvements will include granite countertops, black appliance upgrades, washer installations and new flooring.

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LoansMidwestMultifamilyNebraska

NorthMarq Arranges $28.6M Refinancing for Apartment Property in Omaha

by Kristin Harlow

OMAHA — NorthMarq Capital has arranged a $28.6 million Freddie Mac loan for the refinancing of Broadmoor Hills Phase I in Omaha. The 299-unit apartment property is located at 18510 Capitol Court. Community amenities include a fitness center, indoor basketball court, resident movie theater, onsite restaurant, business center and community clubhouse. Jason Kinnison of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. The borrower was not disclosed.

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DevelopmentHealthcareMidwestNebraska

Darland Completes 80,000 SF Remodeling, Expansion of Medical Center in Wayne, Nebraska

by Kristin Harlow

WAYNE, NEB. — Darland Construction Co. has completed a two-year expansion and remodeling project at Providence Medical Center in Wayne, located in northeastern Nebraska. The 80,000-square-foot project included the addition of a five-room emergency department and ambulance garage. Darland also made renovations to nearly every part of the hospital and completed upgrades to more than 75 percent of the building’s electrical and mechanical systems. The hospital, which now totals 114,000 square feet, remained fully functional throughout construction. Project costs were not disclosed.

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LoansMidwestNebraskaOffice

NorthMarq Arranges $14M Acquisition Loan for Office Property in Omaha

by Kristin Harlow

OMAHA, NEB. — NorthMarq Capital has arranged a $14 million loan for the acquisition of North Park Office in northwest Omaha. The office property spans 177,323 square feet. Steve Ruff of NorthMarq arranged the 25-year loan, which is fully amortized. A life insurance company provided the loan. The borrower was not disclosed.

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DevelopmentMidwestMixed-UseNebraska

Darland Begins Construction of Pinnacle Bank-Anchored Property in Omaha

by Kristin Harlow

OMAHA, NEB. — Darland Construction Co. has broken ground on a new mixed-use development anchored by Pinnacle Bank in Omaha. Located at the northeast corner of 84th Street and West Dodge Road, the 16,600-square-foot building will feature a 7,500-square-foot main level with a retail bank branch and space for one additional tenant. A 9,000-square-foot second level will feature office space. The new bank will replace Pinnacle’s existing location at the southwest corner of the same intersection. Completion is slated for spring 2019. Avant Architects is the project architect.

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LoansMidwestMultifamilyNebraskaOffice

NorthMarq Arranges $10.3M in Financing for Three Nebraska Properties

by Kristin Harlow

PAPILLION AND FREEMONT, NEB. — NorthMarq Capital has arranged three separate loans totaling $10.3 million for three properties in Nebraska. Steve Ruff of NorthMarq arranged a $1.1 million loan for the refinancing of a 10,760-square-foot office property located at 1716 Charleston Drive in Papillion. A life insurance company provided the 15-year loan, which is fully amortized. Bob Chalupa arranged a $5.6 million acquisition loan for Deerfield Clubhouse Apartments in Freemont. The 122-unit apartment property is located at 1021 S. Howard Road. A life insurance company provided the 10-year loan, which features a 25-year amortization schedule. Chalupa also arranged a $3.5 million loan for the acquisition of Conestoga Crossing Apartments in Freemont. The 96-unit apartment property is located at 740-842 N. Michael St. A life insurance company provided the 10-year loan, which features a 25-year amortization schedule. Borrowers were not disclosed.

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LoansMidwestMultifamilyNebraskaSeniors Housing

Lancaster Pollard Provides $23.4M HUD Loan for Refinancing of Skilled Nursing Facility in Papillion, Nebraska

by Kristin Harlow

PAPILLION, NEB. — Lancaster Pollard has provided a $23.4 million HUD loan for the refinancing of The Cottages at Hillcrest Country Estates in Papillion, about 15 miles southwest of Omaha. The Cottages features 126 skilled nursing beds and 12 independent units. The property is located within Hillcrest Country Estates, a planned 44-acre community featuring independent living, assisted living, memory care and long-term care. The campus was designed and managed in such a way to allow for the individual components, such as the Cottages, to be financed separately. The 35-year, FHA 232/223(f) loan refinances the existing bank debt and inter-company notes used to construct and stabilize The Cottages. Quintin Harris led the transaction for Lancaster Pollard.

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Market ReportsMidwestMidwest Market ReportsMultifamilyNebraska

National, Regional Investors Are Drawn to Omaha’s Apartment Market

by Kristin Harlow

With asking rental rates increasing, an average vacancy rate of 5.7 percent and a low average asking rent per unit of just $855 per month, Omaha’s apartment market is increasingly attractive to national and regional investors. According to apartment research firm Reis, Omaha’s average asking rental rate has increased in every quarter for the past seven years, and is expected to increase by another 2.2 percent in 2018.  While not stellar growth, it continues a steady march upward that has benefited owners in Omaha for quite some time. Driving the growth in rents is the balanced nature of the Omaha market coupled with Omaha’s strong underlying economy. From a population growth perspective, census data shows that Omaha’s metropolitan statistical area (MSA) has grown 1.2 percent per year since 2010, and is now estimated at 939,000 people. That steady trend is expected to continue for the foreseeable future, as Omaha’s population is projected to grow another 1.1 percent per year through 2022. In terms of absorption, Omaha has averaged an annual addition of 4,000 households over the past 10 years, according to Reis. Renters account for 34.3 percent of Omaha MSA’s housing units, translating to roughly 1,372 new renter households each …

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