Rev Development Secures $44 Million Construction Loan For Heartland Flats Development In Lincoln NE

The asset involved is a development site located at 1500 Northwest 48th Street in Lincoln, NE. Rev Development is the landlord, and the property is expected to contain 289 units under the name Heartland Flats, which are projected for completion in 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $44,000,000
• Lender: Taylor Pike - Peachtree Group & Kyle Stein - Hickory CRE Lending
• Landlord: Rev Development
• Brokers: Brady Busch & Otis Duffy - Centum Capital
• Loan Type: Construction

Rev Development secured financing from Peachtree Group, highlighting the strong local demand and low supply that contribute to the project’s anticipated success, reflected by the current 95% occupancy and a 3% rent growth in the area.