KANSAS CITY, KAN. — Block & Company Inc. Realtors has brokered the sale of a 2.7-acre pad site that will be home to a Homewood Suites by Hilton. The hotel will be part of Phase V of the Plaza at the Speedway development in Kansas City, which is an 850,000-square-foot retail power center. Baywood Hotels Inc. purchased the pad site located at 10922 Parallel Parkway. Tenants at the center include Walmart Supercenter, Sam’s Club, Kohl’s, Taco Bell, Olive Garden, Red Lobster, Chick-Fil-A, Jack in the Box, Wendy’s and Logan’s Roadhouse. David Block, Alex Block and Max Kosoglad of Block & Co. represented the seller, Plaza Speedway Development Inc., in the transaction.
OVERLAND PARK, KAN. — McPherson Contractors is set to start construction in July on a $49 million mixed-use apartment project in downtown Overland Park, approximately 13 miles south of Kansas City. The Vue will include 219 luxury one- and two-bedroom units, 10,000 square feet of ground-floor retail space and a multi-level parking garage. Hoefer Wysocki will design the project, and Hunt Midwest is the developer. Amenities at The Vue will include a pool, outdoor grills, cyber café, game room, clubhouse, fitness center and bicycle parking. The project is slated for completion in 2018.
CHANUTE, KAN. — Block & Company Inc. has brokered the sale of a 15,447-square-foot strip center for $1.5 million in Chanute, approximately 110 miles east of Wichita. Bloomfield 2005 LLC and Metcalf Arlington SPE LLC sold the property, located at 2502-2510 Santa Fe Ave., to an undisclosed buyer. The 92 percent occupied center is anchored by a Walmart Supercenter and includes other tenants such as Shoe Department, Billy Sim’s BBQ, Maurices and GNC.
PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health Care will soon break ground on Mission Chateau Senior Living, an independent living, assisted living and memory care community in the Kansas City suburb of Prairie Village. Development costs are estimated at $40 million. The 18.4-acre community will feature over 200 units when completed. Tutera hired studioSIX5, Nearing Staats Prelogar & Jones Architects and BHC RHODES to design the project.
WICHITA AND OVERLAND PARK, KAN. — Anthem Memory Care has acquired Morningside Place in Overland Park and Chisholm Place in Wichita, both 66-bed memory care communities, for an undisclosed price. JEA Senior Living previously operated the properties, which were both rebranded as Cypress Springs Alzheimer’s and Memory Support Residences. The acquisitions bring Anthem’s portfolio up to eight properties and mark the Oregon-based operator’s entry into Kansas. LTC Properties Inc., a healthcare REIT, financed the acquisitions. Anthem plans to invest $1 million in upgrades to the communities.
SHAWNEE, KAN. — Colliers International has arranged the sale of a 142,308-square-foot industrial building in Shawnee, approximately 10 miles southwest of Kansas City, for an undisclosed price. ECM Real Estate Holdings LLC sold the facility, located at 23501 W. 84th St., to Shawnee Logistics Centre LLC. John Stafford, Ed Elder and Tom Haverty of Colliers International represented the seller in the transaction. The buyer was self-represented.
WICHITA, KAN. — Presbyterian Manors of Mid-America, a nonprofit operator of 18 communities in Missouri and Kansas, has completed a $35 million expansion at Wichita Presbyterian Manor, a continuing care retirement community in Wichita. The expansion consisted of two phases, both of which started in 2014. In the first phase, the owner added 24 memory care suites, 30 skilled nursing suites and 20 private “post-acute to home” rehabilitation rooms, as well as a new kitchen, bistro, library, beauty salon and barbershop. The second phase of development added The Westerly Residences, which included 90 independent living apartments and an array of new amenities.
WICHITA, KAN. — WaterWalk Hotel Apartments has inked a deal with Rockford Development Group to develop eight WaterWalk franchises in San Antonio, Dallas, Austin and Denver. Paul Roberts and hotel industry veteran Rob Mossburg are leading Rockford’s end of the venture. Under the terms of the deal, Rockford will become a WaterWalk franchisee. The cost of building the eight locations was estimated at $150 million. Rockford’s construction arm will also become the preferred builder for WaterWalk-owned locations. Wichita-based WaterWalk’s hybrid hotel and apartment model is a play on the extended-stay model, combining traditional hotel services within a gated, apartment-like community. The complex offers one-, two- and three-bedroom floor plans with the option of being furnished or unfurnished upon rental. Amenities at WaterWalk include all-inclusive pricing, full-sized appliances in a modern kitchen, high-speed Internet, satellite television with premium channels and DVR, housekeeping, fitness club membership, a communal bicycle rental program, local transportation, and free breakfast. Entrepreneur Jack DeBoer, founder of Residence Inn, Summerfield Suites, Candlewood Suites and Value Place, created the new concept, which opened its first site in Wichita in 2014. WaterWalk locations target corporate housing needs, holiday travelers requiring an extended stay and those moving to a new city …
LEAWOOD, KAN. — In a blockbuster merger, AMC Theatres (NYSE: AMC) has agreed to purchase all of the outstanding shares of Carmike Cinemas Inc. (NASDAQ: CKEC) for $30 per share in cash. The transaction — valued at approximately $1.1 billion including the assumption of debt — creates the largest chain of movie theaters in the United States and the world. The purchase price per share represents an approximate 19.5 percent premium to Carmike’s closing stock price on Thursday, March 3. The purchase price per screen is approximately $376,000. AMC currently has 5,426 screens at 387 theaters, located primarily in the United Sates, including many in the nation’s top markets. Carmike has 2,954 screens at 276 theaters, primarily located in mid-size, non-urban communities. Together, AMC and Carmike will have well over 600 theater locations in 45 states across the country, including the District of Columbia. The deal, which has been approved by the board of directors at both AMC and Carmike is expected to close by the end of this year. “By broadening AMC’s geographic and demographic base for delivering our groundbreaking guest experience innovations in comfort and convenience — such as plush power-recliners, enhanced food and beverage, premium sight and …
OVERLAND PARK AND SHAWNEE, KAN. — NorthMarq Capital has arranged a total of $13.3 million in refinancing loans for two multifamily properties in Kansas. Fiesta Square Apartments is located at 9551 W. 85th St. in Overland Park, and Haverford West Apartments is located at 11309 W. 75th St. in Shawnee. The two properties contain a total of 231 units and were built in 1972 and 1984 respectively. NorthMarq arranged financing for the undisclosed borrower through its relationship with Freddie Mac. The transactions were both structured with a 10-year term and 30-year amortization schedule. Greg Duvall of NorthMarq arranged the financing.