SR Realty Trust, Inc. has acquired, as a tenant-in-common, the Orpheum Tower, a 132-unit market rate multifamily property in Omaha, Nebraska.
The property is located at 405 S. 16th St. in downtown Omaha. Originally designed as the City National Bank Building, the property was built in 1910.
In 1927, the adjacent Orpheum Theater expanded into the first floor of the building, and in 1987 the upper floors of the building were converted into apartments.
As part of the transaction, SR Realty Trust, Inc. facilitated the down-leg of a 1031 exchange for an investor.
