Dakota Pointe, a 143-unit Class B multifamily property in the south end of South Sioux City, Nebraska, sold for $15.3 million, or approximately $107,000 per unit. Greysteel represented the seller. Both the buyer and the seller are private investors based in South Dakota.
The property drew multiple offers, and the closing structure met the seller’s timing requirements and the buyer’s long-term hold objectives. At closing, Dakota Pointe was fully occupied and featured a mix of one-, two-, and three-bedroom units in a property built in 1994.
Among active private investors in Greysteel’s mid-year survey, Class B assets drew the most interest by property type and $5 to $20 million was the most common target transaction size, with roughly 71% of Midwest respondents naming yield and cash flow as their primary motivation. Midwest multifamily carried the highest regional cap rate in the country in 2025 at 5.8%, compared with 5.5% across other major markets, according to Chandan Economics.
Greysteel covers Nebraska, Iowa and surrounding states from its Omaha and West Des Moines offices.
