ARTISAN Capital Group Transforms Wildewood Commons: A Remarkable Turnaround in Ralston, Nebraska
ARTISAN Capital Group ("ACG") was recently recognized by the City of Ralston officials for its work in the acquisition and turnaround of Wildewood Commons, a 180-unit apartment community ACG purchased in June 2023 in Ralston, Nebraska, a suburb of Omaha. This sentiment was further echoed by a Ralston Building Inspector, who expressed a sense of relief in seeing the many improvements that are being made to the property. The inspector acknowledged that ACG's acquisition of the property, formerly known as Fireside Village, successfully averted potentially serious issues that were mounting prior to the acquisition.
Facing challenges of inadequate management, sub-70% occupancy trend and substandard living conditions that nearly led to condemnation earlier in the year, Wildewood Commons has undergone a remarkable transformation under ARTISAN's ownership. Ralston City officials expressed satisfaction with ACG's success in addressing deferred maintenance issues and are optimistic about future improvements.
ACG's management vertical, ARTISAN Management Group ("AMG"), has demonstrated excellence in addressing residents' concerns. There have been no new complaints filed to the city by residents, showcasing the effectiveness of AMG in managing the community.
Ryan Cahalan, Partner at ARTISAN, underscored the company’s commitment to the community's well-being. During a November site visit with city officials, he stated, "We, as owners, with the support of the City of Ralston, will strive to make this community happy and healthy for our residents."
The partnership between the City of Ralston and ARTISAN is focused on revitalizing the complex, aiming to create a safer and more comfortable living environment. ACG's plans include addressing maintenance issues, upgrading every unit, and introducing new or improved amenities including clubhouse improvements which are underway. The collective goal is to enhance the overall quality of life for Wildewood Commons tenants.
Acquired in June 2023, the property, formerly known as Fireside Village, marks ACG's first venture in the Omaha metro area.
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About ARTISAN Capital Group:
ARTISAN Capital Group presently owns and manages market-rate multi-family and student housing communities across six states. ACG’s market-rate strategy is Midwest-focused, while our student housing acquisition plan is national. ACG has grown its portfolio to over 6,500 apartment units since the company was formed in 2017. ACG is headquartered in Chicago, IL with a regional office in Des Moines, IA.