SPRINGFIELD, MO. — Gorrell Hughes Capital has acquired two properties in the Springfield metro area. The properties are Sunset Woodland Apartments, a 177-unit community at 2752 South Meadowbrook Ave. in Springfield, and Excelsior Gardens Apartments, a 104-unit property at 1582 South 14th Ave. in neighboring Ozark, Missouri. The Tulsa, Oklahoma-based investment firm targets value-add acquisitions in middle-income markets.
OVERLAND PARK, KAN. — Thompson Thrift has begun construction of Canopy Flats, a 303-unit property in Overland Park, located in the Kansas City metro area. Completion is slated for 2027. Canopy Flats is situated on a 13-acre site. Units will be comprised of one-, two- and three-bedroom floor plans. Amenities feature a fitness center with a sauna and cold plunge, a golf simulator, billiards, shuffleboard, a putting green, a heated pool, an outdoor movie wall, grilling stations, a dog park and spa and a conference room with screenshare and video …
By David NelsonHamilton Zanze There’s a real argument to be made that Kansas City is one of the country’s most overlooked cities as well as one of its most underappreciated multifamily investment markets. The metro’s residents and visitors can provide ample testimony to the city’s jazz culture, museums, sports scene, affordability and world-class barbecue. But beyond lifestyle, Kansas City has the qualities that matter most to multifamily investors: steady population growth, a balanced economy, measured supply and consistent apartment demand. For investors looking for durable performance across market cycles, metro …
ST. PETERS, MO. — Berkadia has arranged a $15.4 million Freddie Mac refinancing loan for Pure St. Peters, a 143-unit community in the northwest St. Louis suburb of St. Peters. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia Miami secured the financing on behalf of the sponsor, Tilden Legacy Pure St. Peters Apartments LLC. The property was 94 percent occupied at the time of the loan closing. Located at 2100 Pure St., the three-story community was built in 2019 and offers one- and two-bedroom apartments with open-concept layouts. Amenities at …
DES PERES, MO. — Chicago-based Albion Residential along with project partners Koplar Properties and Theis Group have broken ground on Magnolia Ridge in Des Peres, 15 miles west of St. Louis. Brinkmann Constructors is the general contractor, and construction financing was provided by Old National Bank. Completion is slated for spring 2027. The community will be a five-story, 182-unit property located at 13431 Manchester Road. Amenities will include a fitness center with a sauna and yoga room, a private dining room, a game lounge, a speakeasy with wine lockers, a …
INDEPENDENCE, MO. — Gantry has secured a $10 million loan for the refinancing of Hillside Apartments, a 108-unit property located at 111 Hillside Drive in Independence, 10 miles east of Kansas City. The garden-style community consists of 14 three-story buildings. The fully stabilized asset underwent a property-wide renovation. Mark Reichter and Alec Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. Fannie Mae provided the seven-year, fixed-rate loan, which features an interest-only introductory period followed by a 30-year amortization.
KANSAS CITY, MO. — MLG Capital has acquired Summit Crossing, a garden-style property in Kansas City. Built in phases and completed in 2019, the community features 336 apartments and townhomes. Approximately 60 percent of units are townhomes with attached garages. Residents have access to shared amenities such as two pools, a clubhouse, fitness center, business center and pickleball courts.
KANSAS CITY, MO. — PPR Capital Management (PPR) has acquired Infinity at Plaza West, a 224-unit garden-style community in Kansas City, for $33.6 million. The investment structure includes a total equity investment of $11.4 million, with PPR contributing $10.2 million as the primary equity partner. PPR worked alongside Aspen Funds as the general partner and Petra as co-general partner. Petra will also act as the property manager. Infinity at Plaza West was built in 1949 and offers studio, one- and two-bedroom floor plans, according to Apartments.com. Amenities include a pool, …
ST. LOUIS — ARCO Construction and architect HDA have completed The Rail, a 268-unit project in St. Louis. The Rail comprises 278,659 square feet across four stories. The property also includes a three-level parking garage totaling 94,598 square feet. Tenants have access to amenities such as a gathering kitchen, fitness center, game lounge, theater, coworking spaces and conference rooms. Additionally, the complex offers outdoor amenities, including a pool and grilling area. Monthly rents start at $1,410, according to the property’s website. Units come in studio, one- and two-bedroom floor plans.
UNIVERSITY CITY, MO. — Subtext has begun development of LOCAL on Delmar, a 259-unit project in University City, roughly 10 miles west of St. Louis, Missouri. The development site is located at 6650 Delmar Blvd., about one mile from Washington University. The 398,225-square-foot building will feature a mix of studio, one-, two- and three-bedroom apartments and townhomes. The property will also include a five-story parking garage with 399 parking spaces, as well as approximately 7,100 square feet of street-level retail space. Amenities will include a clubroom, vinyl listening station, work-from-home …
