Mixed-use 62 unit apartment building in Omaha, NE acquired off-market for $12,500,000 by Denver based Equity Partnership Holdings, LLC
DENVER, COLORADO, UNITED STATES, November 12, 2021 /EINPresswire.com/ — Equity Partnership Holdings, LLC (EPH) recently acquired Dundee Flats, a mixed-use project in Omaha, Nebraska. Denver-based EPH acquired the property for $12,500,000. The Class A property consists of 62 apartments and two commercial spaces. The property is located at 49th and Dodge, which is walking distance to the University of Nebraska Medical Center, retail, and restaurants. The new Omaha Rapid Bus Transit (OBRT) station is directly in front of the building. Dundee Flats was built in 2019 utilizing Tax Increment Financing and is in an A+ location.
This is EPH’s second transaction in Omaha this year, and seventh overall in the Omaha market, bringing their total Omaha unit count to 483 units. EPH continues to remain bullish on Omaha as the local economy remains strong, occupancy is low, rent growth is above historical average, and there is a lack of new development in the pipeline. Due to historical stability and low transaction velocity, it can be difficult to find quality investment opportunities. “We have continued to utilize our local market relationships to find hidden gems in Omaha. Both deals we purchased in 2021 have appraised for significantly more than our purchase price.” Says Nick Forss, Principal/Co-Founder of EPH.
EPH has completed five acquisitions so far in 2021 with three more properties set to close before the end of the year. Two are located in the Piedmont Triad area of North Carolina, and one in Boise. By year end EPH will break the 1,000-unit mark with current holdings in Orange County, Omaha, Boise, Memphis, and North Carolina. “For 2022, our plan is to continue aggressively pursuing multifamily deals in our target markets that provide our partners with strong investment returns.” Says Garrod Moltz, Principal/Co-Founder of EPH.
Source: EIN Presswire