Omaha Apartments: Acquisition of a Multi-Family Apartment Building

A real estate investor with Utah ties asked us to finance the acquisition of a multi-family apartment building in Omaha, Nebraska.

We reviewed the purchase contract to make sure the buyer had significant “skin in the game” and determined that it was worth performing additional research. We consulted with brokers, not affiliated with the transaction, in Omaha on the value of the property and decided it was worth taking a trip to inspect the collateral in person. Our inspection confirmed what we found in our research so we issued a loan for 70% of the value of the property.

This loan carried a 12% interest rate, paid a 2% origination fee and has a one-year maturity.