Suburban Omaha Community Lands $13M Refi

NorthMarq secured the 10-year loan from a life insurance company on behalf of owner Metonic Real Estate Solutions.
Ontario Place Apartments. Image via Google Street View

Metonic Real Estate Solutions has received a $13 million refinancing package for Ontario Place Apartments, a 156-unit community in Omaha, Neb. NorthMarq Capital secured the loan from a life insurance company. The mortgage has a fixed, 3.32 percent interest rate and a 10-year term followed by an amortization schedule of 30 years.

The property has one- and two-bedroom units with fully equipped kitchens, private patios, granite countertops, walk-in closets and vaulted ceilings. Common-area amenities include a swimming pool, clubhouse, business center and fitness center.

Located at 7325 Ontario St., the community is alongside Interstate 80 near its intersection with 72nd Street, 3 miles from the University of Nebraska’s campus. The surrounding area has a number of retail and hospitality properties, and Creighton University Medical Center’s Bergan Mercy facility is 3 miles to the north.

NorthMarq Managing Director John Reed arranged the financing on behalf of the owner. Earlier in March, one of the firm’s teams brokered the sale of two communities west of Kansas City. The assets traded for a combined price of more than $25 million.