Case study

Torello on Maple

Omaha, NE

Torello on Maple is a 324-unit, institutional-grade, Class B apartment community in Omaha acquired by Metonic in 2019. The site overlooks the highly trafficked Maple Street retail area in Northwest Omaha.

Leveraging location, spacious units, and a strong amenity set, Torello on Maple has exceeded rental income growth expectations in comparison to local competition and underwritten expectations. Unit and amenity set improvements have driven occupancy growth from 70% at acquisition in 2019 to an average occupancy of 98% in 2024. To date, Metonic has renovated 239 units yielding an average ROI of 24%. 

The property has significantly outperformed our initial underwriting with YE 2022 NOI 15% higher than projected. Stemming from value-add projects and property appreciation, Metonic estimates the property’s current value at $47MM, $10.3MM higher than our purchase price of $36.7MM.

1.8x

Multiple

20.8%

Estimated Net Leveraged IRR

70%

of Investor Capital Returned