Eastham Capital has acquired The Colonial, a 258-unit residential apartment community in Omaha, Nebraska.
South Florida-based Eastham Capital has obtained a majority ownership interest in the deal through its current fund, Eastham Capital Fund VI, LP. Bender Companies, will oversee the day-to-day management.
The property was brokered by Northmarq brokers Parker Stewart and Alex Malzone. The apartment community is currently 95% occupied. The acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades.
“We are thrilled to be making our first acquisition in Nebraska with The Colonial and our tenth acquisition with Bender Companies, who has consistently outperformed in our JVs,” said Matthew Rosenthal, founder and managing partner of Eastham Capital.
Built in 1967, The Colonial offers spacious floor plans averaging 902 square feet and a range of onsite amenities. Located at 3022 1/2 N 97th St., the property provides easy access to downtown and is a little over a half mile from I-680, which connects the property to the greater Omaha area.
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