Midwest Real Estate News September 2016 : Page 1

MINNESOTA | MISSOURI | NEBRASKA | OHIO | TENNESSEE | WISCONSIN SEPTEMBER 2016 VOLUME 30 ISSUE 11 WWW .REJOURNALS.COM Directories begin on page 34: THE DAKOTAS | ILLINOIS | INDIANA | IOWA | KANSAS | KENTUCKY | MICHIGAN Developers, Finance, Top Project/ Construction Management Firms, Real Estate Law Firms Diverse economy continues to fuel Omaha’s hot commercial real estate market By Dan Rafter, Editor FEATURE: FINANCE T New hotel, retail and multifamily choices in developments such as Aksarben Village are boosting Omaha’s commercial real estate market. Looking for financing? The basics still matter here are plenty of reasons why Omaha’s commercial real estate market is performing so well. But Trenton Magid, executive vice president with Omaha’s NAI NP Dodge, says that diversity might be the key. Omaha is powered by an especially diverse econo-my. The city and its surrounding areas don’t rely on just tech firms to boost its economy. Oil, energy or aviation aren’t the sole drivers here. Instead, Omaha relies on a wide mix of industries to keep its economy healthy, everything from agricultural operations to financial institutions to tech start-ups. And that protects this city when the national economy falls into a slump. “You think of Nebraska and you think that we are dependent on the agricultural economy and farming,” Magid said. “But in Omaha, those aren’t the only in-dustries that we have. We have insurance companies and financial institutions. We have stepped up our game when it comes to the Silicon Prairie and technol-ogy companies. We not only have a lot of established technology firms with a presence here, we have start-ups, too. The schools we have here have done a great job of educating future tech employees.” M By Dan Rafter, Editor A TECH BOOST Magid is excited, too, about United Airlines’ new daily nonstop flight between Omaha and San Francisco OMAHA (continued on page 14) idwest Real Estate News recently spoke with James Cope, executive vice presi-dent and managing director with com-mercial financing company Walker & Dunlop; DJ Effler, senior vice president with Bellwether Enterprise Real Estate Capital; and Chris Blech-schmidt, senior managing director, with Ber-kadia, about the steps investors, owners and developers must take when seeking commer-cial financing. All three said that the basics still matter when borrowers are seeking dollars for refinances, acquisitions and construction. Midwest Real Estate News: What are some of the factors Walker & Dunlop considers when determining whether it makes sense to provide financing to specific borrowers? James Cope: Things haven’t changed dra-matically over the last several years. The ba-sics are still what we focus on. We review the financial wherewithal of the sponsors sup-porting the transaction. The first thing that we FINANCE (continued on page 10)

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