August 14, 2020
Berkadia recently finalized the sale of Steeplechase on Maple, a 314-unit garden-style multifamily property in Omaha. The sale price was undisclosed.
A Berkadia Mid-Markets team of Alex Blagojevich, Michael Sullivan, Ralph DePasquale and Parker Stewart completed the sale on behalf of Illinois-based Redwood Capital Group. The buyer was Colorado-based Centennial Capital Partners.
Steeplechase was identified as a candidate for disposition earlier this year, as part of a broader plan to exit certain secondary markets. “When government shutdowns began in mid-March, we developed a strategy to market the asset and facilitate a transaction during a time of uncertainty,” said Blagojevich.
“The strategy was built around limited on-site interaction and required constant communication across our Mid-Markets team, our mortgage banking team and the Redwood team,” he added. The Berkadia team ultimately received 10 bids from buyers across six states, “with none coming from the state of Nebraska.”
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