Vukota Capital Lands $28M Refi for Omaha Community
- Nov 09, 2020
Vukota Capital Management has secured a $28.4 million loan for Legacy Crossing, a 408-unit apartment community in Omaha, Neb.
Columbia Pacific Advisors Bridge Lending, a platform of Columbia Pacific Advisors, provided the loan, which will refinance existing debt and on-site upgrades. Meridian Group represented the owner in the deal.
Vukota acquired the garden-style property in 2018 from Timberland Partners, in a $24.5 million deal. The newly planned renovation will affect some residences and community amenities. Avantic Residential will continue its role as manager.
Legacy Crossing is located at 10535 Ellison Plaza, roughly 10 miles northwest of central Omaha, on a 25-acre site. The property is in proximity of a cluster of retailers, while Interstate 680 is within a mile of the community.
According to Yardi Matrix, the one-, two- and three-bedroom community of 17 buildings was completed in two phases between 1972 and 1973. Common area amenities include a fitness center, pool, tennis court and business center.
Earlier this year, Columbia Pacific Advisors provided a $22 million refinancing loan for 1178 Folsom St., a 42-unit mixed-use property in San Francisco. The refinancing led to the completion of the project.