Cavan Companies Secures $87.5 Million Loan for Build-to-Rent Developments in Omaha, Nebraska

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Oct 31, 2024, 11:17 ET

PHOENIX, Oct. 31, 2024 /PRNewswire/ -- Cavan Companies, a leading Build-To-Rent real estate development firm based in Phoenix, Arizona, is proud to announce the closing of two construction loans totaling $87.5 million with ORIX Corporation USA's Real Estate Capital Group for the development of two luxury Build-to-Rent (BTR) communities in Omaha, Nebraska - The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake.

The Bungalows Build-To-Rent are constructed like a single-story home with features such as 10-foot ceilings, oversized windows and open floorplans.

The financing will support the construction and development of two separate housing communities designed to meet the growing demand for rental homes in Omaha, and specifically the desirable and rapidly expanding Elkhorn submarket and West Dodge Corridor. These communities will feature a blend of thoughtfully designed single story apartment homes with modern amenities tailored for today's lifestyle, offering residents the best of both worlds—luxury, space, and convenience without the burdens of ownership.

"In a tight lending market, experience and a proven track record are invaluable assets. Lenders are more cautious, and having a history of successfully navigating real estate investments builds confidence and trust," said Dave Cavan, Chairman and Owner. "Our ability to demonstrate a solid performance over time, coupled with our deep industry expertise, positioned us to secure the financing needed, even in challenging conditions. It's our track record that sets us apart and reassures lenders that we will deliver."

Each community will include a variety of floor plans to cater to young professionals, families, and empty nesters, along with amenities such as:

Private backyards and spacious living areas
Dog parks and pet-friendly spaces
Resort-style pools, fitness centers, and community spaces.
Professional property management and maintenance service.

Cavan Companies has long been at the forefront of the Build-to-Rent movement, leveraging its experience to create vibrant, low-maintenance luxury communities. With a proven track record of delivering high-quality housing in Arizona, the company is poised to bring a new standard of living to Omaha. "The demand for rental homes continues to increase across the U.S., particularly in markets like Omaha," Gary Burton, CEO added. "Our Build-to-Rent model aligns with shifting market preferences, as more residents are seeking lifestyle-driven housing options without the long-term commitment of traditional homeownership."

More About Cavan Companies

Cavan Companies, also a Family Office, has been a leader in the Arizona Commercial Real Estate development space for more than 50 years, with a leadership team responsible for the development of retail, commercial and residential space along with multiple master planned communities. Cavan has focused exclusively on the development of The Bungalows since 2016. Cavan is committed to bringing people and solutions together by delivering exceptional living experiences through innovative design and superior property management. With a proven track record in Arizona and now expanding to Omaha, Cavan Companies continues to redefine rental living by creating opportunities where residents can thrive within their Bungalow Communities.

About ORIX Corporation USA's Real Estate Capital Group

Established in the U.S. in 1981, ORIX USA has grown organically and through acquisition into the investment and asset management firm we are today. With a specialization in private credit, real estate, and private equity solutions for middle-market focused borrowers and investors, we combine our robust balance sheet with funds from third-party investors, providing a strong alignment of interest. ORIX USA and its subsidiaries — ORIX Advisers, ORIX Capital Partners, Signal Peak Capital Management, Boston Financial, Lument, Real Estate Capital and NXT Capital— have approximately 1300 employees across the U.S. and have $85 billion in assets, which include $26.3 billion of assets under management, $49.1 billion in servicing and administration assets, and approximately $10.0 billion in proprietary assets, as of June 2024. Our parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 30 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information, visit orix.com.

Cavan Companies Media Contact:

Sheri Jones
Business Development Director
[email protected]
480-747-9417
www.cavancompanies.com

Cavan Companies "Leading the Future of Build-To-Rent Development"
15300 N. 90^th Street, Suite 200
Scottsdale, AZ 85260

SOURCE Cavan Companies