Berkadia closed the sale of Plaza East, a garden- and townhome-style multifamily property in Kansas City, Missouri.
Director Brett Meinzer and Senior Director Michael Sullivan of Berkadia’s Kansas City investment sales team, along with Managing Director Alex Blagojevich of the Chicago office, completed the sale on behalf of a local private partnership.
The buyer was Time Equities Inc., a full-service New York City-based real estate firm, and was represented in-house by Clifton Martin, Director of Acquisitions and Asset Management. The deal closed Aug. 22.
Located at 1500 E. 46th St., Plaza East is conveniently accessible to The Country Club Plaza, Nelson Atkins Museum of Art and The University of Missouri-Kansas City. The property was originally constructed in 1950 and has been partially upgraded over the last three years. The 380-unit property offers one- and two-bedroom apartment flats, as well as 225 two- and three-bedroom townhomes that include washer and dryer hookups, dishwashers and hardwood floors.