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Marcus & Millichap Team Closes Sale of Multifamily Portfolio Outside Omaha

Marcus & Millichap Team Closes Sale of Multifamily Portfolio Outside Omaha

Marcus & Millichap closed the sale of Northridge and Flatwater, a 192-unit, two-property multifamily real estate portfolio outside of Omaha. The properties traded for a combined $27.5 million or $143,604 per unit. 

“The properties are 10 miles apart and represent a great opportunity for our buyer to acquire well-maintained assets just outside of densely populated Omaha,” said Jason Hornik, first VP investments, Marcus & Millichap. Hornik, Greg Parker and Kent Guerin represented the seller and procured the buyer. Broker of record Jon Ruzicka assisted in closing the transaction. 

Built in 2000 and 2001, Northridge and Flatwater provide residents with a diverse mix of one-and two- bedroom options. The units have fireplaces, extra storage space, and in-unit washers/dryers. 

“Strong neighboring demographics, including a population of over 60,000 people within a five-mile radius and average household income of $136,020, made for a compelling acquisition process,” Parker added. 


Inside The Story

Marcus & Millichap's HornikMarcus & Millichap's Parker

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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