Privately-held real estate investment firm 29th Street Capital has acquired 79 Metcalf Apartments in Overland Park, Kansas. The purchase marks the firm’s first multifamily acquisition in the Kansas City metro area.
Built in 1984, 79 Metcalf Apartments is a 280-unit Class-C community. 29SC’s capital improvement plan includes a full renovation of all units, enhancing amenities and installing new exterior siding.
29SC’s in-house property management service, Haven Residential, will oversee management and leasing.
79 Metcalf Apartments is located at 7843 Riley St., about 10 miles southwest of downtown Kansas City. It is conveniently situated among large employment centers. The walkable downtown location features several dining options, retailers and parks just a few blocks away.
Additionally, several walking and biking trails – as well as the Oak Park Mall’s more than 1.6 million square feet of retail space – are within a few miles. Overland Park has benefited from more than $350 million in development since 2015, including a $20 million design-build community center half a mile from the property.
The transaction closed May 4. Neither the seller nor the sale price was released.
