Lodgepole Creek Apartments Resold

Naples, Florida-based Keating Resources recently sold its 72-unit Lodgepole Creek Apartments. The Apartments were sold to Princeton Management, a Fairfield, Michigan-based property management company. The sale was made just 60 days after Keating's initial purchase.

Keating Resources sold the apartments for $2,600,000 after buying them from Cabela's for $1,950,000. For the deal, Mark Seger of the Omaha-based CBRE represented buyer and seller. Keating Resources CEO, Gerard Keating, complimented his team for identifying a leasing strategy that brought occupancy from 35% to 51% in 60 days, and added that he intends to re-invest the sale proceeds and more back into Nebraska.

Keating Resources was happy to make the deal with a Midwest leader in apartment ownership. Princeton Management owns over 20,000 apartments in a variety of locations, including North Platte and the front range of Colorado. Their focus is on quality service, diverse locations, and competitive prices, ensuring the best experience for their residents.

Gerard Keating said he was glad that Princeton Management recognizes the value in Cheyenne County, as apparent by their plans to use Lodgepole Creek Apartments to grow their western Nebraska portfolio.