KANSAS CITY, MO. — Bow River Capital, a Denver-based alternative asset management firm, has acquired Brookside Commons in Kansas City. Located near the Country Club Plaza, the 212-unit multifamily community was built in 2023. The transaction, which marks Bow Capital’s third multifamily acquisition in the Kansas City market, was completed at more than a 24 percent discount on today’s replacement cost. Berkadia originated acquisition financing through Fannie Mae. The seller and sales price were not provided.
KANSAS CITY, MO. — Berkadia has arranged the sale of The Locarno, a 110-unit multifamily property in downtown Kansas City. Located at 235 Ward Parkway, the high-rise asset features views of Country Club Plaza and Brush Creek. The property was built in 1928 and renovated in the mid-1980s. Michael Spero, Niko Vrentas and Simon Rodewald of Berkadia represented the seller, Locarno Partners LLC. The asset sold to ELKCO Properties in joint venture with Leale Capital. Both companies are based in Denver.
BUCKNER, MO. — Fun Town RV has secured its second Kansas City-area location at 29906 US 24 Highway in Buckner. The company is the official RV dealer of the Dallas Cowboys. Fun Town RV will occupy a 13,037-square-foot building comprising a 3,000-square-foot office and 10,037-square-foot warehouse. The lease marks the company’s 33rd location, joining properties in Texas, Illinois, Michigan, Oklahoma and Arkansas. Bill Maas of Block & Co. Inc. Realtors represented the seller of the Buckner property.
ST. LOUIS — Midas Building Group has completed a $20 million dual-branded hotel at 10300 Natural Bridge Road serving the nearby St. Louis Lambert International Airport. Lawrence Group was the architect, and Lodging Hospitality Management was the developer. The project connects the existing St. Louis Airport Hilton hotel built in the 1960s with a new 78,957-square-foot Hampton Inn hotel. In addition to architecture, Lawrence Group provided interior design, furniture procurement and landscape architecture on the project, which also included extensive interior renovations to the Hilton’s existing 18,100-square-foot, first-floor public areas. The Hilton’s four-story wing was replaced with a new six-story, 128-bed Hampton Inn hotel designed to operate independently from the adjacent Hilton hotel. Hampton Inn guests are able to utilize amenities within the renovated Hilton, including the fitness center, business center and indoor pool. Construction of the Hampton Inn portion was coordinated to not disrupt operations of the Hilton hotel, which provides an additional 397 rooms.
KANSAS CITY, MO. — Ace Hardware has opened its new 1.5 million-square-foot retail support center at Hunt Midwest’s KCI 29 Logistics Park in Kansas City. The project marks the first completed development at the 3,300-acre industrial park. The retail support center will support Ace’s growing network of more than 5,000 locally owned retail locations. Measuring a half mile from end to end, the new facility is the largest distribution center in Kansas City by building footprint and is almost twice the size of Ace’s average retail support center, according to Hunt Midwest. Clayco served as general contractor for the build-to-suit facility, and BZI Steel installed the roof. Ace has installed automation and advanced warehouse technology systems to streamline operations and minimize environmental impact. KCI 29 Logistics Park is located in almost the exact center of the continental U.S. on I-29 and is adjacent to the Kansas City International Airport. The industrial park can support up to 17.8 million additional square feet of build-to-suit development.
ST. LOUIS — Inland Real Estate Investment Corp. and Devon Self Storage have completed an 80,217-square-foot self-storage facility with 797 units in St. Louis. The project at 4222 Union Blvd. involved the conversion of a warehouse into a climate-controlled self-storage property. The three-story facility features a 24-hour security system and is situated near I-70. Approximately 75 percent of St. Louis’ self-storage inventory is comprised of converted properties from prior uses, according to Inland, which maintains a self-storage portfolio of more than $1.8 billion in assets under management. Devon currently manages 190 properties across 31 states.
MARYLAND HEIGHTS, MO. — McCarthy Building Cos. Inc. has broken ground on a 17-acre equipment and warehouse distribution facility in the St. Louis suburb of Maryland Heights. The McCarthy Equipment Operations Hub will span nearly 740,520 square feet and is designed to support the general contractor’s self-perform capabilities. Located in the new 141 Logistics Center, the project will include a 9.5-acre equipment yard and a 66,400-square-foot building that will include a 32,000-square-foot warehouse, 10,000-square-foot equipment maintenance shop and two-story, 24,400-square-foot office space. Completion is scheduled for 2026. The facility is also designed to support workforce development and training. St. Louis-based McCarthy says it has outgrown its current leased property in Ladue, Mo., which has been in use since the mid-1960s.
WENTZVILLE, MO. — Builder MBG is nearing completion of Hearthstone at Autumn Hollow, a 180-unit luxury apartment complex in the St. Louis suburb of Wentzville. The first building is slated for occupancy this month, with the entire five-building complex slated for completion in January. Mia Rose Holdings and J.V. Lombardo are co-developing the community. Amenities will include a fitness center, coworking space, resort-style pool, conference room, dog park, clubhouse and walking paths. Capital Eleven Management is the property manager. Additional project partners include Rosemann & Associates, Engenuity, Civil and Environmental Consultants and Landesign.
O’FALLON, MO. — Northmarq has secured more than $18 million in HUD financing for Southernside Apartments, a 220-unit affordable housing community in the St. Louis suburb of O’Fallon. The property features one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, game room, business center, great room, covered parking and walking trails. Eugene Harris of Northmarq arranged the 35-year loan on behalf of Hennessey Construction Co.
ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.