The Greenhouse Apts DT are purchased..
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- Omaha Cowboy
- The Don
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The Greenhouse Apts DT are purchased..
From today's W-H:
'America First Apartment Investors Inc., a multifamily real estate investment trust, announced Tuesday that it has signed an agreement to acquire the Greenhouse, a downtown Omaha apartment building, for $15.2 million cash.
Jack Cassidy, the trust's chief executive officer based in New York, said that the plan is to continue operating the Greenhouse as a luxury rental apartment community for at least the next few years
The Greenhouse, located at the eastern end of the Gene Leahy Mall, was constructed in 1907 as a warehouse. In the late 1980s, the nine-story brick building was converted into 126 one-, two- and three-bedroom units, with 12,000 square feet of commercial space on the ground level.'..
The complete story link:
http://www.omaha.com/index.php?u_pg=46&u_sid=2104769
..Ciao..LiO....Peace
'America First Apartment Investors Inc., a multifamily real estate investment trust, announced Tuesday that it has signed an agreement to acquire the Greenhouse, a downtown Omaha apartment building, for $15.2 million cash.
Jack Cassidy, the trust's chief executive officer based in New York, said that the plan is to continue operating the Greenhouse as a luxury rental apartment community for at least the next few years
The Greenhouse, located at the eastern end of the Gene Leahy Mall, was constructed in 1907 as a warehouse. In the late 1980s, the nine-story brick building was converted into 126 one-, two- and three-bedroom units, with 12,000 square feet of commercial space on the ground level.'..
The complete story link:
http://www.omaha.com/index.php?u_pg=46&u_sid=2104769
..Ciao..LiO....Peace
Go Cowboys!
Re: The Greenhouse Apts DT are purchased..
Omaha Cowboy wrote: Jack Cassidy, the trust's chief executive officer based in New York, said that the plan is to continue operating the Greenhouse as a luxury rental apartment community for at least the next few years
I'd be very upset if anything happened to this building post the next few years.
- Omaha Cowboy
- The Don
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I got a bit uneasy when I read that paragraph as well nebport5..
Then I read the next paragraph down (in the W-H piece):
'The Greenhouse's location and quality offer the potential of conversion to condos down the road, he said, but REITs, as the trusts are known, typically are in the business of owning properties for long periods.'..
Hmmm..
..Ciao..LiO....Peace
Then I read the next paragraph down (in the W-H piece):
'The Greenhouse's location and quality offer the potential of conversion to condos down the road, he said, but REITs, as the trusts are known, typically are in the business of owning properties for long periods.'..
Hmmm..
..Ciao..LiO....Peace
Go Cowboys!
- Omaha Cowboy
- The Don
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- Omaha Cowboy
- The Don
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Oh gawd I hope not ..And really I don't think so..I think AF will just sit on 'em for awhile..See how the market goes through say 2008..Then consider converting part or all of the apt units into condos..Swift wrote: Or *gasp!* tear it down?
Just the sense I get from the tone of the W-H piece..
..Ciao..LiO....Peace
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They're not doing anyting to it. I've lived there for 4 years, and I called in to ask first thing in the morning. America First already managed the property for the investement group that owned it. They just thought it would be better to own it. They're not converting it to condos or offices, and they're sure as heck not going to tear it down for a tower. They assured me that there will be no changes, with the exception of possible improvements to the building that AF was unable to do before, since they didn't own it. I trust my source, as I have been friends with her since they took over management of the building in '04.
Last edited by Maverick on Wed Jan 25, 2006 12:42 pm, edited 1 time in total.
- Omaha Cowboy
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