Cherry Creek Village I, LLC Closed, Raised 10 Million
Ernst Capital is pleased to announce that fundraising for Cherry Creek Village I, LLC has closed. Private investors throughout the US committed $10,000,000 in capital for the development project located in Omaha, NE. Thank you to all who invested in or considered Cherry Creek Village I, LLC.
Cherry Creek Village –A new multi-family development in Omaha, Nebraska that is expected to be the first phase of a 48-acre multi-phase residential neighborhood with future planned phases including additional townhome-style and traditional multi-family unit types. Cherry Creek Village I is slated to bring 203 new apartment units near the intersection of Potter Street and Highway 133 (Blair High Road). The property will feature five 3-story buildings, a clubhouse and pool area, and 16 detached garage spaces. Residents will have the flexibility to choose among diverse floorplans, with options for many different unit types. All residents will be able to enjoy the property’s attractive amenity package, including the clubhouse, fitness facility and pool area. The clubhouse will also include high-end features like a coffee bar, gaming area and golf simulator attracting year-round use by residents.
We’d like to introduce you another member of our team, Tami Broekemeier. Tami is an Associate with Ernst Capital where she assists with investor relations, data collection, and clerical support for the office. Tami is a graduate of Northeast Technical Community College with an associate degree in Criminal Justice. Tami joined the firm in August and brings with her many years of administrative assistant experience.
Ernst Capital is pleased to report that the Dakotas Real Estate Income Fund IV, LLC (“Dakota Fund IV”) has closed on its sale of the PetSmart property located on the east side of Sioux Falls, SD. The transaction was finalized on July 15th, 2024, as a local investor purchased the property.
We’d like to introduce you to one of the members of our team, Kody Henning. Kody is a Senior Associate with Ernst Capital where he assists with asset management of the investment properties. Prior to joining Ernst Capital in the fall of 2020, Kody worked in accounting and financial analysis roles in the healthcare and insurance industries. Kody is a graduate of Minnesota State University, Mankato, with a Bachelor of Science in Accounting and Finance. Kody is a CPA and is pursuing licensure as a Securities Representative.
Pho Thai is opening a second location on the west side of Sioux Falls. “We have a lot of customers that have requested it, and Sioux Falls is growing, and we want to be a part of that,” co-owner Kim Ueng said. The original Pho Thai opened in 2019 in Shriver Square at 11th Street and Phillips Avenue”, according to the article. The new location will feature the same menu and have the same hours as the downtown location. 
Multiple developers are beginning projects on the southeast side of Sioux Falls along Six Mile Road. “I think we’re seeing more and more people move to the southeast side of Sioux Falls. Sioux Falls has to grow somewhere, and that’s what we’ve been seeing. The Brandon school district has been desired, and (this area) allows people to be in the Brandon school district who still want the amenities (of Sioux Falls)”, said Zach Jacobson with Signature Companies. Dawley Farms retail opportunities also help drive people in Sioux Falls to seek out eastside residences. 
Stadium Plaza, which is located off of 69th and Cliff is quickly gaining tenants and adding new businesses to the area. According to the article, “A new fast-casual restaurant, a fitness studio and a medical office will be among the latest additions to a fast-growing south Sioux Falls intersection.“ “We’re very excited for the new businesses to bring locations to the development as the housing nearby will have some built-in customers looking for their services and become a valued amenity for the neighborhood,” said Chris Daugaard, a partner with Ernst Capital, which assisted the property in its Signature Fund IV, which raised capital – largely from local investors – to support multiple projects for developer Clint Ackerman, owner of Signature Cos. 
Both commercial and residential growth is ramping up on the east side of Sioux Falls along Arrowhead Parkway. “I think we are meeting expectations,” said Clint Ackerman, owner of Signature Cos., which is developing multiple east-side properties, including 180 acres north of Arrowhead Parkway and west of Six Mile Road. “Commercial and multifamily is ahead of schedule or ahead of expectations, so we focused on getting that done and slowed down the residential. … Now, a majority of our activity is on the east side of Sioux Falls”, according to the article. The Alibi and Scapegoat are two restaurants that have recently opened allowing additional choices for residents in the area.