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MARCH/APRIL 2023 VOLUME35 ISSUE2 CRE MARKETPLACE PAGE 37: ASSET/PROPERTY MANAGEMENT FIRMS
CONSTRUCTION COMPANIES/GENERAL CONTRACTORS DEVELOPERS MULTIFAMILY FINANCE FIRMS
Rising interest rates? A lack of new supply? Omaha’s CRE market still a resilient one By Dan Rafter, Editor
Noddle Companies’ the Builder’s District is a key new development in Omaha
T
hese aren’t easy times for developers and commercial real estate investors. Interest rates remain high, and the Federal Reserve Board has shown little inclination to stop boosting its benchmark rate higher. That makes it more challenging for developers to build and investors to close CRE deals. But certain markets are working through these challenges better than are others. One of those? Omaha. This Nebraska city has long boasted a resilient commercial real estate market. Commercial real estate deals
and development, for instance, continued throughout even the dreariest days of the COVID-19 pandemic. And while today’s higher interest rates might have slowed activity in this Midwest city, they haven’t brought it close to a standstill. What is Omaha’s secret? Why is its commercial real estate market so steady? The CRE professionals working here point to the presence of Fortune 500 companies, a government willing to work with developers, the city’s conservative approach to new development and the OMAHA (continued on page 20)
MULTIFAMILY FINANCE
Nothing normal about today’s market: Higher rates put brakes on multifamily finance requests By Dan Rafter, Editor
A normal market? Finance experts say that today’s multifamily market is far from one of those. The reason is obvious: High interest rates have squelched the number of sales in the multifamily market. And as sales have slowed, so have the requests for multifamily finance. We spoke to three multifamily finance experts serving the Midwest about today’s challenging market. How much of a dip has the number of MULTIFAMILY (continued on page 24)