IPA Capital Markets, a division of Marcus & Millichap, has arranged a $31.61 million refinancing for The Flats at Leighton District, a multifamily community with ground-level retail components in Lincoln, Nebraska. The property, located at 4630 Leighton Avenue in the Leighton District area, comprises 234 residential units above street-level retail space.
The financing was secured by Frank Montalto, managing director in IPA’s Chicago office, working with a national bank lender on behalf of a Midwest-based development, ownership and management firm. According to IPA, the new loan carries a five-year term, features full-term interest-only payments and is structured as a fixed-rate execution at 6.28%.
The Flats at Leighton District is positioned near several higher-education institutions, including the University of Nebraska-Lincoln’s East and City campuses, Nebraska Wesleyan University and Southeast Community College. The proximity to multiple campuses places the asset within a concentrated student and young-professional demand base.
The community offers a range of residential configurations, from studio units to three-bedroom apartments, as well as private-entry loft floor plans. Ground-level retail spaces are integrated into the property, although specific retail tenants and square footage were not disclosed in the announcement.
Montalto described Leighton District as a high-quality multifamily asset that continues to benefit from strong fundamentals and sustained demand in the Lincoln market. He noted that IPA’s longstanding relationship with the lender helped support the negotiation of what the firm characterizes as competitive loan terms for the ownership group.
The refinancing is intended to position the ownership entity for continued performance at the property in the context of current capital markets conditions and ongoing demand for well-located multifamily housing near major educational institutions in Lincoln.
