BELLEVUE, Neb. – Metonic fully realized its first investment cycle for an in-house development with the sale of Latitude 41 in late February. The milestone disposition generated exceptional value, delivering an equity multiple of over 3.75x to investors.
“The success of Latitude 41 is a testament to our vertically integrated platform and the disciplined execution of the entire Metonic team,” said Metonic President Kassie Inness.
Metonic’s in-house Apogee development team designed Latitude 41’s kitchens with luxury finishes, including modern pendant lights and stainless steel appliances.
A 204-unit apartment community located in Bellevue, NE, Latitude 41 was originally underwritten to deliver strong, risk-adjusted returns. Through disciplined execution across development, operations, and asset management, the investment ultimately outperformed original underwriting expectations over a 6-year hold period.
Conveniently located near retail centers and the John F. Kennedy Freeway, Latitude 41 features a thoughtfully planned mix of studio, one-, two-, and three-bedroom floor plans. Metonic’s in-house APOGEE development team designed Latitude 41 to appeal to modern renters with intentional design and best-in-class amenities. These thoughtful choices helped the property lease up quickly and return more than half of the investor equity in an early refinance less than six months after project completion. The property achieved an average trending occupancy of 98% throughout the hold period, reflecting effective asset management and supporting a strong sale.
Latitude 41’s success reflects both favorable market conditions and the strategic execution capabilities of the Metonic team. For Kassie, who led the project’s inception as Director of Project Management on her way to becoming Metonic President, the completed cycle marked a full-circle moment. “Seeing Latitude 41 evolve from a plan on paper to a successful disposition is incredibly rewarding,” she said.
About Metonic
Metonic is a full-service investment management firm that partners with individuals, family offices, and institutions to invest in real estate. With offices in Omaha and Chicago, Metonic acquires, develops, renovates, and oversees multifamily properties in Midwestern MSAs. Metonic’s portfolio includes more than $1.2 billion in AUM across 27 markets.