CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Steeplechase Apartments, (above centered photo) a 314-unit Class A multifamily community in Omaha, Nebraska.
The HFF investment sales team was led by senior managing director Matthew Lawton,(top left photo) director Sean Fogarty (top right photo) and managing director Marty O’Connell (middle left phot
o) who marketed the property on behalf of the seller, Executive Capital Corporation. Redwood Capital Partners, LLC purchased Steeplechase Apartments on an all cash basis.
o) who marketed the property on behalf of the seller, Executive Capital Corporation. Redwood Capital Partners, LLC purchased Steeplechase Apartments on an all cash basis.HFF’s debt team led by managing director Mike Kavanau (bottom left photo) and director Tim Joyce (bottom right photo) placed new financing on the property for Redwood Capital.
Steeplechase Apartments is located at 14949 Manderson Plaza close to Highway 64 and Interstate 680
in northwestern Omaha. The 94% leased property has one-, two- and three-bedroom units averaging 1,170 square feet each and featuring full-size washer and dryers, nine-foot ceilings and gas fireplaces.
in northwestern Omaha. The 94% leased property has one-, two- and three-bedroom units averaging 1,170 square feet each and featuring full-size washer and dryers, nine-foot ceilings and gas fireplaces.Select units have detached or direct access garages. Community amenities include a fitness center, outdoor swimming pool and playground.
“The Omaha apartment market has been in a recovery phase since 2004 with positive absorption, decreasing vacancy and steadily increasing rents,” said Lawton. “New supply has been nominal in recent years and is projected to remain that way over the near term.” Executive Capital Corporation owns and manages more than 7,000 apartment units throughout the U.S.
Redwood C
apital Partners was formed in 2007 and is based in Chicago. Redwood currently owns and manages over 2,000 units with locations in Illinois, Georgia, Texas and Nebraska.
apital Partners was formed in 2007 and is based in Chicago. Redwood currently owns and manages over 2,000 units with locations in Illinois, Georgia, Texas and Nebraska. HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.
CONTACTS:Matthew D. Lawton, HFF Senior Managing Director, 312 528 3650, mlawton@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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