Missouri

3rd and Grand in Kansas City, Missouri

KANSAS CITY, MO. — JLL Capital Markets had arranged $12.9 million equity investment for the construction of 3rd and Grand, a 245-unit community in the River Market neighborhood of downtown Kansas City. The borrowers were EPC Real Estate Group and Copaken Brooks. JLL worked on behalf of the borrower to secure the investor, a national fund manager. Mark Erland and Kevin Barron led the JLL Capital Markets team. 3rd and Grand is situated at 201 and 255 Grand Blvd. The five-story development will house studio, one- and two-bedroom apartments. Planned …

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KC Current’s mixed-use development

KANSAS CITY, MO. — The Kansas City Current, a professional women’s soccer team, has unveiled plans for an $800 million mixed-use project on the Missouri riverfront in downtown Kansas City. Partners for the development include Palmer Square Capital Management, Marquee Development and the Port Authority of Kansas City. The development will be anchored by CPKC Stadium, a women’s soccer stadium that was completed in March. Upon completion, the project will feature hundreds of residential units, as well as food and beverage offerings and new public recreational spaces. Ten percent of …

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ST. LOUIS — Brinkmann Constructors has completed 11th and Spruce, a 148-unit complex in downtown St. Louis. The community offers amenities such as a fitness center, clubroom, courtyard, pet spa, dog run and rentable work-from-home space. The property also includes 3,000 square feet of ground-floor retail space. Balboa Real Estate Partners was the developer. TR,i Architects designed the community.

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ST. LOUIS — Berkadia has brokered the sale of Crossing at Northpointe, a 334-unit property in St. Louis. Utah-based Sundance Bay sold the asset to a New Jersey-based buyer for an undisclosed price. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller in the deal. Crossing at Northpointe was constructed in 1972 and renovated in 2021. The community was 94 percent occupied at the time of sale.

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Solstice in Lake Saint Louis, Missouri

The combination of sustained job and population growth has put St. Charles County in the “Show-Me State” on the map and served as a catalyst for multifamily development. Buoyed by the presence of several multinational companies such as Amazon, General Motors and MasterCard, the county is home to several thriving suburbs northwest of St. Louis and posted a nearly 15 percent increase in population from 2010 to 2022. The number of residents rose from 360,485 to an estimated 413,803 during that period, according to the U.S. Census Bureau. St. Charles …

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KANSAS CITY, MO. — Cushman & Wakefield has hired Whittaker Potts as an executive managing director with the firm’s Sunbelt Multifamily Advisory Group. Potts will work alongside advisors Martin Bynum, Cole Herget, Matt Stephens and Stephen Pestinger to cover multifamily investment sales in Arkansas, Missouri, Southern Illinois, Kansas and Oklahoma. He will be based in the firm’s Kansas City office. Potts received a bachelor of arts in communication studies from the University of Kansas and currently holds a real estate license in both Kansas and Missouri.

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An apartment community in Glen Mills, Pennsylvania

PHILADELPHIA, ATLANTA, RALEIGH AND ST. LOUIS — Equus Capital Partners (Equus) has acquired Project Big Timber, a portfolio that totals 1,249 units across six garden-style communities in the Atlanta, Philadelphia, Raleigh and St. Louis metropolitan areas. Equus purchased the portfolio for $220 million. Newmark’s Debt Capital Markets team of Steve Comly and Kippy Donovan assisted Equus in securing a ten-year fixed rate loan from Fannie Mae for the acquisition. The communities included in Project Big Timber have an average vintage of 1984 and an average unit size of 989 square-feet. …

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Cortona at Forest Park in St. Louis, Missouri

ST. LOUIS, MO. — Passco Cos. has acquired Cortona at Forest Park, a 278-unit complex in St. Louis, from Invesco Real Estate for an undisclosed price. Kevin Girard, Mark Stern and Zach Kaufman of JLL Capital Markets brokered the deal. Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group negotiated acquisition financing on behalf of the buyer. Cortona at Forest Park was constructed in 2014 and is located at 5800 Highlands Plaza Drive. The property is comprised of one residential building on a 4.8-acre site. Units come in studio, one- and two-bedroom floor …

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Discovery Park in Lee’s Summit, Missouri

LEE’S SUMMIT, MO. — Intrinsic Development has broken ground on Discovery Park, a $900 million mixed-use project in the southeast Kansas City suburb of Lee’s Summit. Plans for Discovery Park include 2,791 apartments within a development named Alura, as well as two hotels, office space, medical office buildings and retail space. The 3.9 million-square-foot development will span 268 acres near I-470 and Saint Luke’s East Hospital. Discovery Park will be constructed in four phases from now until 2031. The first phase is The Village, which will include 585 apartment units, …

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KIRKWOOD, MO. — High Street Residential, the residential subsidiary of Trammell Crow Co., has begun leasing The James in the St. Louis suburb of Kirkwood. The James offers 152 apartments, as well as more than 7,000 square feet of ground-floor retail space. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a pool, clubroom, private dining area, fitness center, indoor bike storage, work-from home center, pet wash and pet exercise area. The project is Trammell Crow Co.’s first multifamily project in the St. Louis market. Brinkmann Constructors is …

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