Kansas

Marcus & Millichap Brokers Sale of 342-Unit Apartment Complex in Wichita

by Amy Works July 6, 2015

WICHITA, KAN. — Marcus & Millichap has brokered the sale of The Shores Apartments, a 342-unit multifamily property located at 2701 S. Emporia St. in Wichita. Kirkland, Wash.-based Weidner Apartment Homes purchased the property for an undisclosed price from a Florida-based private investor. Built in 1985, the property consists of 19 three-story buildings with 174 one-bedroom/one-bath units and 168 two-bedroom/two-bath units. Apartment amenities include private patios/balconies, eat-in kitchens, dishwashers, disposals and ovens with ranges. Community amenities include a pool, clubhouse, business center, fitness center, playground, tennis court, on-site management and maintenance staff, dry cleaning services and laundry facilities. Brett Meinzer, Michael Sullivan, Grant Kollman, Alex Blagojevich and David Gaines of Marcus & Millichap represented the seller in the transaction. Greg Bates, also of Marcus & Millichap, is the broker of record in Kansas.

July 6, 2015

Kansas Midwest Multifamily

Gershman Mortgage Provides $36.6M in Financing for Exchange Place Apartments

by Katie Sloan June 17, 2015

WICHITA, KAN. — Gershman Mortgage’s multifamily division has provided $36.6 million to finance the rehabilitation of the Exchange Place and Bittings buildings in Wichita to create Exchange Place Apartments. The 230-unit, high-rise complex is located at the corner of Douglas and Market streets. Development will include the rehabilitation of the two existing high-rise buildings and construction of a new parking garage and apartment building where the Lerner and Michigan buildings are currently located.

June 17, 2015

Kansas Midwest Multifamily Seniors Housing

Construction Begins on The Healthcare Resort of Topeka

by Amy Works June 12, 2015

TOPEKA, KAN. — Mainstreet has broken ground on The Healthcare Resort of Topeka. Located at 6202 SW 6th Ave. in Topeka, the 69,935-square-foot facility will feature 96 beds and provide short-stay rehabilitation and therapy care, as well as assisted living. On-site amenities will include a therapy gym, an outdoor rehabilitation courtyard, movie theater, game room, spa and on-site chef. Slated to open by spring 2016, the $16 million project will bring 225 construction jobs and 90 permanent jobs to the area. Carmel, Ind.-based Mainstreet develops, finances and jointly operates transitional care centers and long-term health care properties.

June 12, 2015

The-Residences-at-CityPlace-Overland-Park-KS

Kansas Midwest Multifamily

BRES, The Carlyle Group to Develop Multifamily Community in Overland Park

by Amy Works May 22, 2015

OVERLAND PARK, KAN. — Block Real Estate Services (BRES) and The Carlyle Group are developing The Residences at CityPlace, a 344-unit planned multifamily community within Overland Park’s CityPlace development. The Residences at CityPlace will consist of micro, one- and two-bedroom units, ranging from 468 and 2,023 square feet, featuring gourmet island kitchens, quartz countertops, walk-in closets with custom shelving, large outdoor terraces, full-sized washers/dryers and attached garages. Community amenities will include a resort-style pool and hot tub, fire pit, covered grilled and TV area, fitness center, coffee bar, library, game room, social media/theater room, secure covered parking, dog park, bike stations, WiFi, and access to the 17-mile Indian Creek Trail system.

May 22, 2015

Industrial Kansas Midwest

Colliers Brokers Acquisition of 61,812 SF Industrial Building in Kansas

by Amy Works May 22, 2015

TOPEKA, KAN. — Colliers has brokered the acquisition of an industrial building located at 3740 SE South Park Ave. in Topeka. Harvesters – The Community Food Network purchased the property from Lindemuth Inc. for an undisclosed price. Allison Vance Moore and Kirsten Flory of Colliers represented the buyer in the transaction. The seller was not represented.

May 22, 2015

Hospitality Kansas Midwest

Value Place Changes Name to WoodSpring Suites

by Danielle Everson April 28, 2015

WICHITA, KAN. — Value Place, a value extended stay hotel brand, has changed its name to WoodSpring Suites, effective immediately. In addition, the Wichita-based company is developing a brand extension with a more enhanced offering, WoodSpring Suites Signature, designed to appeal to less price sensitive guests. “Our new brand strategy will foster our ability to further expand our network, gain access to new markets and customer segments, and further drive RevPAR growth for our company owned hotels and development partners,” says Bruce Haase, CEO of the brand. “Leveraging our highly profitable operating model and history of product innovation, we believe that our rebranding strategy will be the catalyst to take the company to the next level of growth and profitability. We are building from a strong foundation.”

April 28, 2015

Kansas Midwest Multifamily Student Housing

Colliers Arranges Sales of Three Student Housing Communities

by Danielle Everson April 16, 2015

LAWRENCE, KAN., AND CONWAY, ARK. — Colliers International Student Housing Group has arranged the sales of three major student-housing communities in Kansas and Arkansas. In two of the deals, Collegium Capital Partners LLC, an affiliate of Calidus Realty LLC, acquired The Grove at Lawrence in Kansas and The Grove at Conway. The properties which were previously owned by a joint venture between Campus Crest Communities and Harrison Street Real Estate Capital LLC. The Grove at Lawrence is a 500-bed, 172-unit property located approximately five miles from the University of Kansas. The Grove at Conway is a 504-bed, 180-unit property located a few miles from the University of Central Arkansas. The third sales transaction was for a 792-bed, 216-unit student housing community. The details of the transaction were undisclosed. Dorothy Jackman and Travis Prince of Colliers International Student Housing Group represented the seller and the buyer in all three transactions.

April 16, 2015

Kansas Loans Midwest Multifamily

NorthMarq Arranges $32.6M Acquisition Loan for Apartments in Overland Park, Kan.

by Danielle Everson April 10, 2015

OVERLAND PARK, KAN. — NorthMarq Capital’s Kansas City office has arranged acquisition financing of $32.6 million for Corbin Crossing Apartments, a 298-unit multifamily property in Overland Park. The property is located at 6801 W. 138th Terrace. Greg Duvall of NorthMarq arranged the seven-year loan that includes two-year interest-only payments and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.

April 10, 2015

Kansas Midwest Retail

Block & Co. Inc. Realtors Arranges $2M Sale of Pad Site in Overland Park, Kan.

by Danielle Everson April 3, 2015

OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has arranged the $2 million sale of a 2.6-acre pad site at the Corbin Park Shopping Center in Overland Park. The property is located on the southeast corner of 135th and Metcalf Avenue. The land will consist of a new 16,500-square-foot, multitenant building that will include a 6,916-square-foot 810 Zone restaurant, a proposed mattress store and 6,000 square feet of space for lease. Block & Co. Construction Management will begin work on the building next month. David Block and Max Kosoglad of Block & Co. arranged the sale and will handle the leasing of the pad building, which has 6,000 square feet remaining to lease.

April 3, 2015

Hospitality Kansas Midwest

Carter Validus Mission Critical REIT II Inc. Acquires Hospital in Overland Park, Kan. for $24.5M

by Danielle Everson March 20, 2015

OVERLAND PARK, KAN. — Carter Validus Mission Critical REIT II Inc. has acquired the Heartland Rehabilitation Hospital in Overland Park for $24.5 million. The newly built, 45-bed in-patient rehabilitation facility is located on more than four acres and measures approximately 54,568 square feet in net rentable area. The facility will provide physical, psychological, social and vocational rehabilitation services to patients. The property is fully leased to Heartland Rehabilitation Hospital LLC, which is a newly formed operating subsidiary of Post-Acute Medical LLC, an owner/operator of eight in-patient rehabilitation facilities and long-term acute care hospitals in Texas and Louisiana. PAM is an affiliate of Vibra Healthcare LLC.

March 20, 2015

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