Finance c Nebraska

HFF originates $26 million of loans for 446-unit apartment community in Omaha

  

Holliday Fenoglio Fowler, L.P. has arranged $26.5 million in financing for Whispering Hills, a 446-unit, Class-A, garden-style apartment community in Omaha, Nebraska.

HFF worked exclusively on behalf of the borrower, NewStreet Properties, LLC, to place the 10-year, fixed-rate loan with Allianz Real Estate of America, LLC. The borrower purchased the asset on an all-cash basis in a separately closed transaction. Loan proceeds were used to partially defray the cost of the acquisition and to fund property upgrades and common area amenities.

Built in four phases from 2004 to 2016, Whispering Hills is located seven miles northwest of downtown Omaha at 2510 North 109th Plaza. The property is 99-percent occupied and consists of 20 two- and three-story buildings with a variety of 12 floor plans averaging 984 square feet.

Amenities include two resort-style swimming pools, a sand volleyball court, indoor basketball court, 24-hour fitness center, business center and children’s playroom.