$12,400,000 in permanent financing was acquired for North Pointe Villas, a 137-unit apartment complex located in Lincoln, Nebraska. Our correspondent life insurance company provided a 25-year fixed rate financing without reserves or escrows. The loan was committed and rate locked prior to completion and qualified for funding at just over 85% occupancy. It is a true non-recourse loan with no personal liability for exclusions to the typical non-recourse language. The loan also featured intra-partnership transfers, a one-time right of assumption and an allowance for subordinate financing.