The Old Market Lofts buildings were built in 1898, and theseller had renovated the properties in 2000, says Jon Pesce, VP ofdevelopment with the locally-based Seldin Co. Pesce represented theseller in the deal, while Minneapolis-based Princeton CommercialGroup represented the buyer.


The property has a six-story indoor atrium and waterfall,washers and dryers in every unit, 133 underground parking spots forresidents and a rooftop deck with a Jacuzzi, pool and exercisefacility. Rents run from $750 to $1,350 per month. The retailtenants include Aromas Coffeehouse, Urban Winery and NomadLounge.


"Occupancy is more than 95%," Pesce tells "It's awell-stabilized property. In general, the rental market Downtownhas been strong for the past six-to-12 months. We see this deal, asale to an out-of-state owner, as an indication of a belief ofstrength in the underlying economy of Omaha. They recognized thatOmaha is resilient to today's environment, and that unemploymenthere is very low."

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