Downtown Omaha Orpheum Tower is Acquired by SR Realty Trust
Posted Under: News
SR Realty Trust, Inc. is pleased to announce the acquisition, as a tenant in common, of the Orpheum Tower, a 132-unit market rate multifamily property. The property is located at 405 South 16th Street in downtown Omaha, Nebraska. Originally designed as the City National Bank Building, the property was built in 1910. In 1927, the adjacent Orpheum Theater expanded into the first floor of the building, and in 1987 the upper floors of the building were converted into apartments.
As part of the transaction, SR Realty Trust, Inc. facilitated the down-leg of a 1031 exchange for an investor.
“With this acquisition, we now have ownership in five properties in Nebraska,” said Evan Richardson, Senior Vice President – Investments, SR Realty Trust.