KANSAS CITY, MO. — Northmarq has arranged the sale of 456-unit Timberlane Village in Kansas City. Gabe Tovar, Jeff Lamott, Parker Stewart and Dominic Martinez of Northmarq’s Midwest investment sales team arranged the sale on behalf of the original developer. The sale price was undisclosed.
Daniel Stickane, senior vice president of debt and equity at Northmarq, secured acquisition financing for the buyer, Houston-based Venterra Realty, with a fixed-rate loan through Northmarq’s in-house Fannie Mae team.
Built in 1987, Timberlane Village features 456 one-, two- and three-bedroom units across 40 two- and three-story buildings on 27 acres. The property is adjacent to Oracle Cerner’s Innovation campus. Amenities include an indoor and outdoor swimming pool, tennis court, fitness center, sauna, clubhouse, covered parking and expansive green space.