Thursday, December 19, 2024
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Nebraska

Build-to-RentDevelopmentFinanceMidwestNebraskaNews

Cavan Cos. Receives $87.5 Million in Construction Financing for Build-to-Rent Projects in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Cavan Cos. has secured two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will …

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The Pines at Q Plaza Apartments in Omaha, Nebraska
FinanceMidwestNebraskaNews

CBRE Secures Refinancing for 505-Unit Community in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — CBRE has secured a loan for the refinancing of The Pines at Q Plaza Apartments, a 505-unit community in Omaha. John Larsen of CBRE Capital Markets’ Debt and Structured Finance team in Omaha secured the 10-year, full-term interest-only loan through Freddie Mac. The total loan amount was not disclosed. The company purchased the property in 1985 and will use a portion of the loan to renovate the common areas of all units. The Pines at Q Plaza is located at 8633 Q Plaza. Built in 1974, the …

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Brickline at The Mercantile in Omaha, Nebraska
FinanceMidwestNebraskaNews

Northmarq Provides $75.5 Million Refinancing for Brickline at The Mercantile in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Northmarq has provided a $75.5 million Fannie Mae loan for the refinancing of Brickline at The Mercantile, a 379-unit property in Omaha. The complex was built in 2023. Amenities include a pool, golf simulator, fitness center, yoga studio, electric vehicle charging stations and coworking spaces. The community also features commercial space, which has been leased to three restaurant/entertainment concepts. Kevin McCarthy, Jeff Frankel, Alex Czachor and Jason Kinnison of Northmarq originated the loan on behalf of the borrower, a joint venture between Hines and Cresset Real Estate …

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Highline Apartments in Omaha, Nebraska
FinanceMidwestNebraskaNews

Colliers Mortgage Provides $29.9 Million Refinancing for Highline Apartments in Omaha

by Channing Hamilton

OMAHA, NEB. — Colliers Mortgage has provided a $29.9 million Fannie Mae loan for the refinancing of Highline Apartments, a 306-unit complex in Omaha. Brett Olson and Jeff Witt of Colliers Mortgage originated the 10-year loan, which features interest-only payments for the full term. Highline Apartments consists of two buildings connected by a covered parking garage. Community amenities include rooftop decks, basketball courts, a business center, fitness center, outdoor pool and clubhouse.

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Leavenworth Lofts in Omaha, Nebraska
DevelopmentMidwestNebraskaNews

Sullivan Development Breaks Ground on 28-Unit Leavenworth Lofts in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Sullivan Development Co. has broken ground on Leavenworth Lofts, a 28-unit building in Omaha. Leavenworth Lofts will offer one-bedroom units that average 1,000 square feet in size. Planned amenities include access to concierge housekeeping and a controlled-entrance garage. Penthouse units on the fifth floor will feature secured access and private rooftop terraces. Units on the lower level will be available as a short-term rental option. The property will also feature a gallery that will spotlight rotating exhibits by local artists. The project is slated to deliver in …

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Affordable HousingDevelopmentFinanceMidwestNebraskaNews

The Annex Group to Develop $52.7 Million Affordable Housing Community in Lincoln, Nebraska

by Channing Hamilton

LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor. Situated on 1.7 acres within the eastern portion of downtown Lincoln, Union at …

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Investment SalesMidwestMinnesotaNebraskaNews

Centerspace Sells Nine Properties in Minnesota and Nebraska for $144.3 million

by Channing Hamilton

MINOT, N.D. — Minot-based developer Centerspace (NYSE: CSR) has sold nine properties in Minnesota and Nebraska to an undisclosed buyer for a total $144.3 million. The transaction included four communities (692 units) in St. Cloud, Minnesota, two communities (498 units) in the Omaha-Lincoln market in Nebraska and three communities (377 units) in the Minneapolis-St. Paul market. CBRE brokered the sale of the Minnesota communities, while MMG Real Estate Advisors brokered the sale of the communities in Nebraska.

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Union-at-Middle-Creek-Lincoln-Neb
DevelopmentMidwestNebraskaNews

The Annex Group Breaks Ground on 192-Unit Affordable Housing Community in Lincoln, Nebraska

by Kari Lloyd

LINCOLN, NEB. — Indianapolis-based developer The Annex Group has started work on Union at Middle Creek, a 192-unit affordable housing community in Lincoln. The $34.4 million development will be located at 2643 W. Timberlake Drive, and feature 192 units targeting people who make up to 60 percent of the area median income (AMI). Property amenities will include a clubhouse, fitness center, nature trail, a balcony or patio for all units, and limited private carport parking. The Annex Group will also create a Community Impact Plan specific to Union at Middle …

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