DEAL OF THE DAY: Seldin Co. Completes Sale of 266-Unit, Mixed-Use Project for $30.65M
- Jul 18, 2008
By Anuradha Kher, Online News EditorOmaha, Neb.–The Seldin Co. recently completed the sale of Old Market Lofts Building, a 266-unit, mixed-use project, located in Omaha, Neb., for $30,650,000.MFR Partners VII LLC acquired the Old Market Lofts Building from NuStyle Development. The property is located at 10th and Jones Street in downtown Omaha’s old market area. The building, erected between 1898 and 1915, also features 36,000 sq. ft. of office and retail space.“The sale of this property at this tough time demonstrates the strength of Omaha’s economy,” Jon Pesce, vice president of development with the Seldin Co., tells MHN.Todd Heistand and Tammy Barrett, the brother-and-sister team of NuStyle Development, completely renovated the buildings during 2000-2002. The property now includes a six-story indoor atrium, interior waterfall, washer and dryer in each apartment unit, 133 underground parking spots for residents, and a rooftop deck with pool, Jacuzzi and exercise facility. Grandbridge Real Estate Capital LLC structured the financing for the acquisition.