Nebraska

American Street Capital Arranges $5.5M Refinancing for Omaha Multifamily Property

by Kristin Harlow September 16, 2020

OMAHA, NEB. — American Street Capital (ASC) has arranged a $5.5 million loan for the refinancing of a 111-unit multifamily property in Omaha. Built in 1968, the asset features a mix of studio, one- and two-bedroom floor plans with updated interiors and private patios. Amenities include a pool and onsite laundry facilities. The property was 99 percent occupied at the time of closing. Igor Zhizhin of ASC arranged the CMBS loan, which features a fixed rate for 10 years. The new loan will retire the existing HUD debt on the complex. The borrower was undisclosed.

September 16, 2020

Loans Midwest Multifamily Nebraska

Colliers Mortgage Provides $3.2M HUD Loan for Refinancing of Nebraska Apartment Property

by Kristin Harlow August 17, 2020

GRAND ISLAND, NEB. — Colliers Mortgage has provided a $3.2 million HUD 223(f) loan for the refinancing of Old Walnut Apartments in Grand Island, about 90 miles west of Lincoln. The property was converted from an educational institution to multifamily housing in 2004. The apartment community features 89 units, 88 of which are restricted to residents who earn up to 41.6 percent of the area median income. Walnut Housing LLC was the borrower. The loan is fully amortized over 35 years.

August 17, 2020

Development Midwest Mixed-Use Nebraska

Lanoha to Develop The Row at Omaha’s Heartwood Preserve

by Kristin Harlow August 10, 2020

OMAHA — Lanoha Real Estate Co. Inc. has been selected to develop The Row at Heartwood Preserve in Omaha. Applied Underwriters Inc. owns Heartwood Preserve, a 500-acre development largely dedicated to green space and trails, and is selling blocks of land to Lanoha for the new project. The Row will serve as a town center, encompassing residential, office, hospitality, retail and entertainment offerings. Upon completion, The Row will represent a $500 million investment. CBRE has been retained for brokerage and management services. Lanoha expects construction of the first eight-acre phase to begin next year, according to the Omaha World-Herald.

August 10, 2020

Acquisitions Midwest Multifamily Nebraska

Berkadia Arranges Sale of 314-Unit Multifamily Property in Omaha

by Kristin Harlow August 7, 2020

OMAHA, NEB. — Berkadia has arranged the sale of Steeplechase on Maple, a 314-unit multifamily property in Omaha. The sales price was undisclosed. Located at 14949 Manderson Plaza, the community features one-, two- and three-bedroom floor plans. Amenities include a fitness center, pool, outdoor area, sundeck, clubhouse and playground. Alex Blagojevich, Michael Sullivan, Ralph DePasquale and Parker Stewart of Berkadia represented the seller, Illinois-based Redwood Capital Group. Colorado-based Centennial Capital Partners purchased the asset.

August 7, 2020

Development Healthcare Midwest Nebraska Office Top Stories

McCarthy Completes $86M Omaha VA Ambulatory Center in Nebraska

by Alex Tostado August 6, 2020

OMAHA, NEB. — McCarthy Building Cos. has completed construction of the Omaha VA Ambulatory Care Center, an $86 million, 157,000-square-foot outpatient facility for veterans. The property includes seven primary-care units, an outpatient surgery suite and a specialty medicine unit allowing 400 additional patients to visit the clinic each day, as well as a dedicated women’s health clinic area. The new facility, which is connected to the existing 12-story VA Medical Campus, will open to patients this month. This is the first center in the country to take advantage of the C.H.I.P.I.N. for Vets Act passed through Congress in 2016, according to McCarthy. Under the law, the VA is permitted to accept private donations to complete construction projects. The VA entered a public-private partnership with nonprofit group Veterans Ambulatory Center Development Corp. (VACDC) to save taxpayers roughly $30 million. The law also requires the builder to use innovative delivery techniques that fall outside federally prescribed specifications and methods. Such initiatives include subsurface utility mapping, virtual design and construction, and using a design-assist subcontracting approach instead of a hard-bid approach. McCarthy claims it completed the project four months ahead of schedule. “Breaking from the traditional design-bid-build delivery format allowed for creative solutions, more …

August 6, 2020

Acquisitions Hospitality Midwest Nebraska

Marcus & Millichap Arranges Sale of 129-Room La Quinta Hotel in Omaha

by Kristin Harlow July 24, 2020

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 129-room La Quinta hotel in Omaha for an undisclosed price. Built in 1981, the two-story property is located at 3330 N. 104th Ave. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.

July 24, 2020

Development Hospitality Midwest Nebraska

McCarthy Breaks Ground on $23M Boutique Hotel at Nebraska Innovation Campus

by Kristin Harlow July 23, 2020

LINCOLN, NEB. — McCarthy Building Cos. Inc. has broken ground on a six-story boutique hotel at Lincoln’s Nebraska Innovation Campus, an expansive research community designed to facilitate partnerships between the University of Nebraska-Lincoln and private-sector businesses. Developed by Goldenrod Cos., the $23 million project will be a Marriott Tribute hotel with 154 rooms. Marriott Tribute hotels are independent, boutique properties that embrace the character and personality of their surroundings. In this case, the design aesthetic will celebrate the state of Nebraska, the university and its fans. A 10,000-square-foot portion of the hotel’s first level will be designated as educational and amenity spaces for the University of Nebraska’s hospitality, tourism and restaurant management students. Other amenities will include a full-service restaurant, rooftop bar, coffee shop, fitness center and a private dining area on the top floor known as the Founders Room. DLR Group designed the hotel. Completion is slated for fall 2021.

July 23, 2020

Development Midwest Nebraska Office

Darland Completes Construction of 58,950 SF Office Building in West Omaha

by Kristin Harlow July 16, 2020

WEST OMAHA, NEB. — Darland Construction Co. has completed construction of Pacific Springs Center II, a 58,950-square-foot Class A office building in West Omaha. The two-story property is located at the northwest corner of 168th and Pacific streets. The project features 40,000 square feet of spec office space as well as an underground parking garage. The area, known as Pacific Springs Vista, has experienced a flurry of new development in the past several years thanks to a growing residential market and the area’s convenient access to the nearby West Dodge Expressway, according to Darland. Avant Architects was the project architect. Investors Realty is handling management and leasing.

July 16, 2020

Acquisitions Midwest Nebraska Office

MAG Capital Partners Acquires Omaha Flex Office Building in Sale-Leaseback

by Kristin Harlow June 30, 2020

OMAHA, NEB. — MAG Capital Partners LLC has acquired a 47,184-square-foot flex office building in Omaha in a sale-leaseback transaction. The single-tenant, fully leased property serves as the headquarters for Scantron’s technology solutions department. The seller was Transom Capital Group. Scantron, best known for its machine-readable paper forms for multiple-choice test questions, was acquired by Transom in December 2019. Built in 1987, the property is located on 3.6 acres at 2020 S. 156th Circle. Two-thirds of the building is utilized as flex office space with the remainder being used for warehousing and manufacturing space. Nick Foster of JLL represented the seller. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented the buyer.

June 30, 2020

Development Midwest Nebraska Office

R&R Realty Incorporates ‘Healthy’ Features into Office Building Under Development in Omaha

by Kristin Harlow May 15, 2020

OMAHA, NEB. — R&R Realty Group has added several “healthy” features in its newest office building currently under development in Omaha. Known as the Waterford Building, the property spans 180,000 square feet at the intersection of 192nd Street and West Dodge Road. R&R has configured the HVAC system to use medical-grade air filters. The Waterford Building will feature touch-free entrances along with motion sensors for lighting. R&R is also installing germ-resistant flooring, wall coverings and seating surfaces. Screens will help visitors find their way in an effort to reduce unnecessary foot traffic. The property management team will receive data regarding air quality, circulation and other building health metrics. Completion of the building is slated for spring 2021.

May 15, 2020

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