OMAHA, NE—Multifamily communities in the top US markets have been hot commodities for some time now, and the compression of cap rates there has caused many coastal investors to begin looking for opportunities in the nation's interior. Grandridge 930, LLC of Brooklyn, New York, for example, just bought the Grandridge Apartments, a multifamily property located at 5439 N. 100th Plaza in Omaha, NE.
“The investor inquiries seem to be up more than 50% from a few years ago, with a lot of interest coming from out-of-state buyers with no previous presence in Omaha,” Ralph DePasquale, the Chicago-based managing director for Berkadia, tells GlobeSt.com. “These markets don't have a great deal of institutional following and are dominated by leveraged buyers.”
DePasquale and director Laurel Wallerstedt of the Kansas City office worked together to complete this sale. The property was marketed without an asking price and sold on June 29, 2015.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
