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AcquisitionsKansasMidwestMultifamily

Avanti Residential Buys Village West Apartments in Kansas City for $65M

by Kristin Harlow

KANSAS CITY, KAN. — Avanti Residential has acquired Village West Apartments in Kansas City for $65 million. The 306-unit Class A apartment community is located at 8343 Leavenworth Road near Village West, a retail, dining and entertainment destination. Built in 2014, the property features amenities such as a clubhouse, media lounge, coworking lounge, fitness center and pool. Village West Apartments was 96 percent leased at the time of sale. Mac Crowther and Whittaker Potts of Newmark represented the seller, JVN Realty Corp. Avanti now owns four properties in the greater Kansas City area.

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KansasLeasing ActivityMidwestOffice

EML Signs 11,773 SF Office Lease at Aspiria in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Global payment solutions company EML has signed a lease to relocate its North American corporate headquarters to Aspiria in Overland Park. The company signed an 11,773-square-foot office lease and will occupy space on the fourth floor of Building 6100. The tenant is working with Aspiria’s owner, Occidental Management, to update the space. Occupancy is slated for April 2022. Chad Stafford and Hunter Johnson of Occidental and RC Jensen and Bryan Johnson of Colliers handled the lease transaction. Occidental plans to develop the 60 acres surrounding the Aspiria campus. Plans call for 1 million square feet of Class A office space, 380,000 square feet of retail and restaurant space, a 120-room hotel and 600 multifamily units. Design planning for the long-term project has begun.

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AcquisitionsIndustrialKansasMidwest

Stan Johnson Co. Brokers $16.4M Sale of FedEx-Occupied Facility in Topeka, Kansas

by Kristin Harlow

TOPEKA, KAN. — Stan Johnson Co. has brokered the sale of a FedEx-occupied distribution center spanning 26,892 square feet in Topeka for $16.4 million. The property is located at 5116 SW Wenger St. Built in 2015, the facility features 36 docks and ample trailer parking. Erik Lundberg of Stan Johnson represented the seller, a New Jersey-based investor group that acquired the property less than a year ago. A Wisconsin-based investor completing a 1031 tax-deferred exchange was the buyer. The sales price represents a cap rate of 5 percent.

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KansasLoansMidwestMultifamily

Ready Capital Closes $5.8M Acquisition Loan for Multifamily Property in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — Ready Capital has closed a $5.8 million loan for the acquisition, renovation and stabilization of a 62-unit multifamily property in the South Johnson County submarket of Kansas City. The undisclosed borrower plans to address deferred maintenance and make exterior improvements. The nonrecourse loan features a floating rate and a three-year term.

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AcquisitionsIndustrialKansasMidwestMissouri

Ascendas REIT Buys 2.1 MSF Industrial Portfolio in Metro Kansas City for $156M

by Kristin Harlow

KANSAS CITY, MO. — Ascendas REIT has purchased a 2.1 million-square-foot industrial portfolio spanning 13 buildings in metro Kansas City for $156 million. The acquisition marks the first entry into the U.S. logistics market for Singapore-based Ascendas. The infill properties are situated across the submarkets of South Johnson County, North Johnson County, Eastern Jackson County and Northland. The portfolio is 92.6 percent occupied by 27 tenants. Two entities doing business as ColFin 2017-11 Industrial Owner LLC and ColFin Cobalt I-II LLC were the sellers. Mark Long, John Hassler, Jim Linn and Andrew Briner of Newmark Zimmer brokered the transaction. Ascendas, an industrial REIT, is listed on the Singapore Exchange Securities Trading Limited. Its portfolio comprises 210 properties across the globe.

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AcquisitionsKansasMidwestMultifamilyNorthmarq

Northmarq Arranges $35.5M Sale of Apartment Complex in Shawnee, Kansas

by Kristin Harlow

SHAWNEE, KAN. — Northmarq has arranged the sale of Park 67, a 352-unit apartment complex in Shawnee, for $35.5 million. Park 67 was built in 1969 and recently underwent renovations for 30 percent of the units. The property features a pool, fitness center, playground, business center and onsite laundry facilities. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Kansas City-based Worcester Investments. Charlotte, N.C.-based Greystone Capital Holdings LLC was the buyer.

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AcquisitionsKansasMidwestMultifamily

Marcus & Millichap Brokers Sale of 225-Unit Apartment Complex Near Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. — Marcus & Millichap has brokered the sale of Carson Street Towers, a 225-unit apartment complex in the Kansas City suburb of Overland Park. The sales price was undisclosed. Built in 2020, the property sits on just over two acres. Amenities include a fitness center, pool and covered parking. Jason Hornik, Greg Parker, Ryan Bowlby, Greg Price and Drew Isaac of Marcus & Millichap represented the seller, a private investor. The brokerage team also procured the buyer, Continental Realty Group.

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AcquisitionsIndustrialKansasMidwest

Sealy & Co. Acquires 1.3 MSF Industrial Portfolio in Suburban Wichita

by Kristin Harlow

PARK CITY, KAN. — Sealy & Co. has acquired a 1.3 million-square-foot industrial portfolio in Park City, a suburb just north of Wichita. The purchase price was undisclosed. The portfolio consists of four fully occupied distribution centers along North Air Capitol and North Hayes drives. All four of the Class A buildings have been constructed within the last six years. Whitney Kerr of Cushman & Wakefield represented the seller, Murdock Properties LLC. Sealy’s Jason Gandy and Davis Gibbs led the acquisition on behalf of Sealy.

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Easterly Government Properties to Acquire 10-Property VA Portfolio for $635.6M

by Katie Sloan

WASHINGTON, D.C. — Easterly Government Properties Inc. (NYSE: DEA) has entered into an agreement to acquire a 1.2 million-square-foot, 10-property portfolio of facilities leased to the Department of Veterans Affairs (VA) for $635.6 million.  The properties will be purchased in a joint venture with an undisclosed global investor, with Easterly retaining a 53 percent stake in the portfolio. Two of the properties are open, while the other eight are currently under construction. Acquisitions include:  VA Chattanooga, a 94,566-square-foot Class A facility in Tennessee that was completed in November 2020. The property offers audiology, imaging, pathology, lab, dental and mental health services.  VA Lubbock, a 120,916-square-foot facility in Texas completed in December 2020. The facility is located on the Texas Tech medical campus and features an ambulatory surgery center as well as general health, dental, audiology, ophthalmology, MRI, radiology, pharmacy, lab, physical therapy and mental health services. VA Lenexa, a 31,062-square-foot facility in Lenexa, Kan., that was delivered in May 2021. The property offers primary and specialty care, including audiology, dental, pathology and lab services, as well as radiology.  VA San Antonio, a 226,148-square-foot development currently underway in Texas. The three-story facility will feature six patient aligned care team (PACT) modules …

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AcquisitionsKansasMidwestRestaurantRetail

Quantum Arranges $2.5M Sale of Wendy’s-Occupied Property in Salina, Kansas

by Kristin Harlow

SALINA, KAN. — Quantum Real Estate Advisors Inc. has arranged the $2.5 million sale of a single-tenant retail property net leased to Wendy’s in the central Kansas town of Salina. The 2,967-square-foot building is located at 1940 S. Ohio St. Jason Caplan of Quantum represented the Chicago-based buyer. Matthew Mousavi of SRS Real Estate represented the seller, a real estate investment and operating company based in California.

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