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MARKET NEWSLETTER | January 2025
Omaha Multifamily Insights
CBRE
CBRE Multifamily Report
Omaha Multifamily Figures Q4 2024
Annual rent growth remains strong while vacancy remains low in the Omaha market.
Monthly Indicators
Recent Sales
Florentine Apartments
2105-2313 Benson Garden Blvd
Omaha, NE
Units: 174
Sale Date: 12/20/2024
Sale Price: $11,300,000
Price per Unit: $64,943
*Source: CBRE
945 D Street
Lincoln, NE   
Units: 24
Sale Date: 10/15/2024
Sale Price: $2,000,000
Price per Unit: $88,333
*Source: CBRE
7739 Main Street
Ralston, NE
Units: 19
Sale Date: 11/27/2024
Sale Price: $1,670,000
Price per Unit: $87,895
*Source: CBRE
3515 Vine Street
Lincoln, NE
Units: 17
Sale Date: 10/18/2024
Sale Price: $1,530,000
Price per Unit: $90,000
*Source: CBRE
Construction Watch
CBRE Multifamily Construction Pipeline
In the Loop
One of Omaha's Tallest Buildings Set to be Converted to Downtown Apartments
First National Bank of Omaha is in the process of selling the 22-story FNBO Main Bank building at 16th and Dodge Streets to NuStyle Development, which has plans to convert the building into 300 apartments and commercial space.
Source: omaha.com
READ MORE
Some Things Never Change: Omaha’s Commercial Real Estate Market Remains a Model of Consistency, Even During Challenging Times
The Omaha CRE market seems to be built to weather challenging times. And that’s never been more evident than in 2024. High interest rates and construction costs remain major challenges in commercial real estate. The struggles of the office sector show few signs of lessening.
Source: rejournals.com
READ MORE
Downtown Omaha’s Economy Is Recovering Quicker Than Other Cities
The pandemic prompted many downtowns to rethink their futures. Omaha’s evolution beyond a traditional business district was already underway.
Source: governing.com
READ MORE
CBRE Multifamily Capabilities

The CBRE Nebraska Multifamily Investment Team consists of Scott Johnson, Mike Johnson and Josh Larsen. The team partners with Matt Bukhshtaber of CBRE’s St. Louis office forming a strategic alliance focused on multifamily pursuits throughout the central region of the U.S.

Their singular goal is to maximize asset value for clients by building strong relationships and using leading capital sources, unparalleled market knowledge, best-in-class offering deliverables and a proven marketing process. Combined, the team has over 80 years of experience and expertise.

The CBRE Multifamily Group has specialists in all facets of the multifamily industry with over 300 dedicated multifamily professionals in 65 U.S. offices. Our clients consistently turn to CBRE for our proven ability to execute on any multifamily deal, from large complex portfolios to small private capital assignments. CBRE completed $46 billion in multifamily sales in 2022 and has been the #1 U.S. Multifamily Brokerage Firm since 2001 (Source: MSCI Real Assets).

— Learn More
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For more information, please contact:
Mike
Johnson, SIOR
Vice President
 +1 402 557 6004
mike.johnson4@cbre.com
Scott
Johnson, CCIM
Senior Associate
 +1 402 697 5849
scott.johnson5@cbre.com
Josh
Larsen
LP - Vice President
Debt & Structured Finance
 +1 402 968 2620
josh.larsen@cbre.com
Melissa
Torrez
Sr. Field Research Analyst
 +1 402 697 5809
melissa.torrez1@cbre.com
Matt
Bukhshtaber
Vice Chairman
 +1 314 655 6060
matt.bukhshtaber@cbre.com
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