Property Highlights
NOTES
- Property located on a secondary road – limited visibility
- Shorter lease terms on many of the major tenants
- Existing conduit loan on Phase I of the property
- Life company Loan in pre-payment lock-out period on second phase of property
- Complex title issues
- One tenant behind in rent
- Previously unknown structural problem raised by tenant one week prior to closing
Property Overview
Retail Power Center
Oak View Drive, Omaha, NE
1999 - 2004
177,000 SF
The End Result
2006
$33,250,000
$187.85
MAJOR POINTS
- Separated property into two simultaneous closings to maximize tax advantages for Seller
- Worked through last-minute structural issue; tenant in default and title issues
- Defeased conduit loan, pre-paid life company loan
