The Mogharebi Group (TMG) has advised a Colorado-based private investment group on its sale of Fireside Village, a 180-unit multifamily community in the Omaha, Nebraska, market to ARTISAN Capital Group.
The multifamily transaction, one of the largest by unit count to close in metropolitan Omaha this year, according to CoStar data, represents the seller’s exit and the buyer’s entry into the Nebraska market, according to Mogharebi Vice President Scott Koethe.
Fireside Village is the first acquisition in Nebraska for Chicago and Des Moines-based ARTISAN Capital Group, whose portfolio includes more than 6,500 multifamily and student housing units throughout the Midwest and Nevada. In partnership with Guardian Capital, the transaction, which needed to close before the July 4th holiday, was the upleg of a 1031 Exchange that included the assumption of an attractive sub-5% Agency loan with five years remaining on the term, according to Koethe.
Located at 8214 Wilson Drive, in Ralston, Omaha, a suburb less than a 15-minute drive from Downtown Omaha, Fireside Village offers a diverse mix of floor plans ranging from studio to two-bedroom apartment homes housed in 11 residential buildings on a 5.5-acre site. Community amenities include a sauna, fitness center, playground, dog park, business center, detached garages, & laundry facilities. The property was 75% occupied at closing.
Built in 1972, only one-third of the units have been renovated providing the buyer with a tremendous value add opportunity, according to Koethe.
The Mogharebi Group acts as advisor on sale of 180-unit multifamily community in Omaha market
