Sagebrook is a 264-unit, Class A multifamily rental project in La Vista, Nebraska, a rapidly growing, dense suburban community southwest of Omaha. The 15.77-acre site is conveniently located just north of Giles Road – one of the main thoroughfares in the western suburbs – and less than a 20-minute drive from downtown Omaha. Access to a premium school district and the City’s new $250M City Centre development are driving rent growth and attractive occupancy levels, creating ideal rental demand in this submarket. The project is an excellent opportunity to deliver a proven multifamily product to the Omaha market.
property
Sagebrook
address
NW Corner of Giles Road & S 96th Street
city, state
La Vista, NE
county
Sarpy County
product type
Market-Rate, Multifamily
construction type
Wood Frame
site size
15.77 acres
construction start
Q3 - 2024
completion
Q4 - 2026
developer
Hubbell Development, LLC
general contractor
Hubbell Construction Services
management
Indigo Living
Cash-on-Cash (7-Year Stabilized Avg.)
IRR (10-Year Hold Period)
Equity Multiple with Sale Year 10
IRR (4-Year Hold Period)
Equity Multiple with Sale Year 4
From Interstate 80
property
Sagebrook
address
NW Corner of Giles Road & S 96th Street
city, state
La Vista, NE
county
Sarpy County
product type
Market-Rate, Multifamily
construction type
Wood Frame
units
264
Residential NRA
269, 103
average unit size
1,019 SF
site size
15.77 acres
no. of stories
3
parking
456 total parking spaces
construction start
Q3 - 2024
completion
Q4 - 2026
developer
Hubbell Development, LLC
general contractor
Hubbell Construction Services
management
Indigo Living
West of La Vista City Centre
Southwest of Downtown Omaha
Northeast of Werner Park
Cash-on-Cash (7-Year Stabilized Avg.)
IRR (10-Year Hold Period)
Equity Multiple with Sale Year 10
IRR (4-Year Hold Period)
Equity Multiple with Sale Year 4
From Interstate 80
Costar Analytics reported that “rapidly rising interest rates and recession fears have not stopped Omaha, Nebraska’s multifamily market from posting a historic performance this year, leading all major U.S. markets in annual rent growth each quarter for the first time on record."
The La Vista City Centre is a $250 million mixed-use development located just over a mile east of the Sagebrook location. The development features retail, dining, indoor/outdoor music venue, and a 34-acre park.
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*Project details are subject to change. Current as of 11/7/24. This information does not constitute an offer to sell or a solicitation of an offer to buy securities. This information is not intended to be complete and final. The information on this website should not be relied on by anyone reading it as a basis for an investment decision and does not take into account the objectives, financial situation or needs of any potential investors. Investment opportunities offered by Hubbell Realty Company and any of its affiliates are limited to individuals who qualify as accredited investors as defined by U.S. Securities and Exchange Commission regulations. Any offer or sale of securities will be made only through a definitive agreement.