CBRE has successfully secured a loan for the refinancing of The Pines at Q Plaza Apartments, a large multifamily property in Omaha consisting of 505 units. Josh Larsen, part of CBRE’s Debt and Structured Finance team in Omaha, was responsible for securing the 10-year interest-only loan through Freddie Mac. While the exact amount was not disclosed, it is expected to cover all necessary expenses.
The company acquired this property back in 1985 and plans to use some of the funds from this loan to renovate all units as well as common areas within the complex. According to Larsen, demand for multifamily properties remains strong due to consistent population growth and a thriving job market in Omaha. With lower interest rates on loans becoming available soon, this demand is only expected to increase over time.
Conveniently located at 8633 Q Plaza just south of Interstate 80 near various city parks and amenities such as restaurants and banks; The Pines at Q Plaza offers one-, two- ,and three-bedroom floor plans averaging around 916 square feet each. This complex was built back in1974 but has been well-maintained throughout its years with regular updates made by its owners.
