MF Investors Look to Middle America

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.”