We are excited to announce that Vita 72 was awarded CoStar’s Redevelopment of the Year! Vita 72, formerly known as Place 72, was acquired by Metonic in December 2021, with redevelopment commencing in January 2022. Metonic acquired the property with the hopes of bringing it back to life, giving it a full refresh,and allowing it to reach its full potential.
Built in 1973, the property is located in a great central spot in Omaha, with a daily traffic count of over 27,000. Prior to Metonic’s acquisition, the property was hard to spot, being overrun with trees with little to no signage. Post-acquisition, Metonic immediately cleaned up the exterior and brightened it up with colorful signage of the rebranding and new siding.
Additional capital expenditure efforts included new paint, flooring, exterior landscaping, asphalt, siding, windows, and new roofs. The upgraded units received new kitchen appliances and in-unit washers and dryers. These improvements brought a new group of residents to the area who would have previously overlooked the property. It also increased value and curb appeal, helping neighboring tenants and businesses.
CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information.
About Metonic Real Estate Solutions
Metonic is a private real estate investment company unique to the Midwest. At Metonic, we provide exceptional homes for residents, stellar spaces for businesses and retailers, and an unparalleled investment experience for our partners.