CBRE has arranged the sale of Fountain View on the Plaza, a 398-unit luxury apartment community located adjacent to Kansas City’s County Club Plaza.
A global investment advisor sold the property to an affiliate of Abacus Capital Group in a transaction that closed in September of 2020. Terms of the deal were not disclosed.
This deal represents a return to the Kansas City market for the New York-based buyer after exiting in 2016 with the sale of the 596-unit Northland Passage Apartments in the metro’s Northland submarket.
Jeff Stingley, an executive vice president in CBRE’s Kansas City office, along with senior associates Max Helgeson and Michael Spero, represented the seller in the transaction.
The planned southern extension of Kansas City’s popular streetcar line from Union Station to 51st Street will make Fountain View a “transit-oriented development.” The stretch of Main Street directly in front of the property has been slated for an important high-volume stop on the future line, which will enhance Fountain View’s already stellar accessibility.
With the completed sale, CBRE’s Kansas City multifamily group has now completed $250 million in metro apartment sales so far in 2020.
