Keating Resources

Lodgepole Creek Apartments Resold in 60 Days

Press, Real Estate | February 25, 2019

Naples, Florida-based Keating Resources recently sold their 72-unit Lodgepole Creek Apartments on February 21, 2019. The Apartments were sold to Princeton Management a Fairfield, Michigan-based property management company, just 60 days after their initial purchase.

Keating Resources sold the apartments for $2,600,000 after buying them from Cabela’s for $1,950,000. For this latest 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, Nebraska 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.