**Eastham Capital and Bender Companies Acquire The Colonial in Omaha for $19M**
Eastham Capital has acquired The Colonial, a 258-unit residential apartment community located in Omaha, Nebraska. The South Florida-based investment firm secured a majority ownership interest as part of its current fund, Eastham Capital Fund VI, LP.
Bender Companies will manage the day-to-day operations of the property. This acquisition marks Eastham Capital’s first investment in Nebraska and the firm’s tenth joint venture with Bender Companies.
The transaction was brokered by Parker Stewart and Alex Malzone of Northmarq. Currently, the property boasts a 95% occupancy rate. The acquisition includes a $1.9 million renovation budget, which will be allocated to both interior unit upgrades and exterior improvements.
“We are thrilled to be making our first acquisition in Nebraska with The Colonial and our tenth acquisition with Bender Companies, who has consistently outperformed in our JVs,” said Matthew Rosenthal, founder and managing partner of Eastham Capital.
Built in 1967, The Colonial features spacious floor plans averaging 902 square feet, along with a variety of onsite amenities. The community is located at 3022 1/2 N 97th Street in Omaha, offering convenient access to downtown and situated just over half a mile from I-680, a key connector to the greater Omaha metro area.
