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Large Apartment Transaction Closes in Omaha
The Mogharebi Group (TMG) advised a Colorado-based private investment group on its sale of Fireside Village, a 180-unit multifamily community at 8214 Wilson Drive in Omaha, Nebraska, to ARTISAN Capital Group. The multifamily transaction, one of the largest by unit count to close in metropolitan Omaha this year, represents the seller’s exit and the buyer’s entry into the Nebraska market.
Fireside Village is the first Nebraska acquisition for Chicago & 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 was the upleg of a 1031 Exchange that included the assumption of a sub-5% agency loan with five years remaining on the term.
“Our proprietary 1031 Exchange platform combined with our experience with the complicated loan assumption process, allowed us to close on time and help both parties meet their business objectives,” said Mogharebi Vice President Scott Koethe.
