Orchards at Wildwood 278877

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7454 Gertrude St. La Vista, NE 68128

PROPERTY Stats

UNITS

2011

Year Built

36,864

PROPERTY OVERVIEW

The Orchards at Wildewood is a 48-unit affordable housing community for seniors located in La Vista, NE, approximately 10 miles southeast of downtown Omaha. Shopping, multiple public parks, healthcare, dining, and major transportation arteries are all within minutes from the property. The property was built and placed in service in 2011 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 45% & 50% of Area Median Income (AMI) limits, which are provided by the Nebraska Investment Finance Authority. The Orchards at Wildewood is comprised of one and two bedroom units featuring a fully equipped kitchen with energy star appliances, a patio, ceiling fans, a locking storage closet, and a washer and dryer in each unit. Community amenities include a community room, computer center, fitness center, bbq/picnic area, walking paths, leasing office, on-site maintenance, and controlled building access.

48-Unit Senior LIHTC property located just miles southwest of the Omaha city center The property is operating at a steep discount to comparable market rate assets, resulting in strong historical occupancy and low turnover Fantastic rental upside as the rental limits increased by 5.9% in 2023 with 8.6% of additional rental potential for future years due to the annual ceiling adjustment The Omaha - Council Bluffs MSA has experienced fantastic rental growth with an 23% increase in rental rates over the last 36 months per Yardi

INVESTMENT HIGHLIGHTS

Contacts and Office Locations

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by theBerkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

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Investment Highlights

Managing Director Multifamily 312.845.8572 ralph.depasquale@berkadia.com License#: 471011898

Ralph DePasquale

Director Affordable Housing 425.761.1640 mike.terry@berkadia.com License #: 89005

MIKE TERRY

Senior Managing Director Affordable Housing 208.286.5013 jeff.irish@berkadia.com License #: DB36794

Jeff Irish

125 South Wacker Dr. Suite 400 Chicago, IL 60606

CHICAGO OFFICE

6225 North Meeker Pl. Suite 210 Boise, ID 83713

BOISE OFFICE

INVESTMENT SALES