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Lexington Ridge Apartments: 216 Units Open to the Public in Lincoln

The Omaha Multifamily Program Center and the Legal Division, closed a $12,000,000 loan on Wednesday, February 27, 2013.  It is for a market rate project located in Lincoln, NE, called Lexington Ridge Apartments.

three story apartments with balconies

The 216 unit project is a refinance of a project previously in HUD’s portfolio.  It is now insured under HUD’s Section 207, pursuant to Sections 223(f) and (a)(7) of the National Housing Act.  Refinancing of the loan allowed for a lower interest rate and debt service savings.  These will reduce risk of a future default.  The project was initially constructed in 2003.  It was refinanced under HUD’s Section 223(f) program in 2009.

Multifamily Loan Information