Ravello 192 in Omaha, NE was developed by Metonic and APOGEE in 2019. The 9.6-acre site features 118 Class A Apartminiums in a top submarket in Omaha. These top-of-the-line townhomes and amenities offer all-inclusive pricing that makes the property more convenient to a distinct client.
The Ravello 192 community offers a mature and private environment, where residents experience the quality of a well-appointed townhome without the stress of ownership. This asset style along with the all-inclusive pricing structure has been extremely popular amongst residents.
At construction commencement, the project appraisal was $27MM. At completion, Ravello 192 was appraised at $30MM. 72% of equity was returned to partners following stabilization. The project is projected to achieve a 15 – 18% net leveraged IRR and 4.5 – 5x equity multiple upon completion.
The success of Ravello 192 led Metonic to develop Ravello 192 Phase II, an additional 68 Apartminiums adjacent to the existing development. The completed project will include 186 Apartminiums. Construction commenced in May 2021 and is expected to be complete by September 2022. To learn more about Metonic’s developments and other investment opportunities, visit our site at Metonic.net.