Northmarq Arranges Sale, Financing of Omaha Apartments

Northmarq’s Midwest Multifamily Investment Sales team of Parker Stewart, Anthony Martinez, Dominic Martinez and Alex Malzone with Jim Gibson recently completed the $13.7 million sale of Grover Square, a 201-unit multifamily property in Omaha, Nebraska.

Northmarq represented the Omaha-based seller, Burlington Capital Group. The buyer was a Missouri-based private investor with over 1,500 units owned and managed across its Midwest portfolio. John Reed, managing director of Debt + Equity at Northmarq, arranged the financing for the acquisition.

Built in 1972, the apartment community is located at 6801 A Plaza near the intersection of Grover and 68th Plaza. Grover Square is a garden-style community near shopping, dining, entertainment and employment opportunities as well as the University of Nebraska – Omaha.

“Grover Square received significant interest from investors across the country due its desirable location within the I-80 corridor and the long-term ownership,” said Stewart.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!