MARCUS & MILLICHAP BROKERS 200-UNIT MULTIFAMILY TRANSACTION

OVERLAND PARK, KAN. — Marcus & Millichap has represented both parties in the sale of Plaza Gardens Townhomes, a 200-unit multifamily community located at 13900 Newton in Overland Park. Situated on approximately 20 acres, the 307,600-square-foot apartment community consists of 32 three-story buildings. The Class A complex houses two- and three-bedroom units. A Phoenix-based investor has purchased the property from a local developer for an undisclosed amount. Amenities at the property include a swimming pool, hot tub, tanning salon and fitness center. Will Balthrope in the Dallas office of Marcus & Millichap, in conjunction with Christopher Helvey and Michael Sullivan in the Kansas City office, represented the seller; Marcus & Millichap also represented the buyer in the transaction. The acquisition price was not disclosed.