Orozco Capital Trust has purchased the 116-unit Shawnee Lakes Apartments in Topeka, Kan., for $4.2 million. The seller was Shawnee Lake Apartments, L.P. out of Wichita.
With the purchase of Shawnee Lakes, Orozco Capital Trust now owns four multi-family complexes in Topeka, including Kensington Plaza, Trianon Apartments and Brentwood Apartments.
Shawnee Lakes’ occupancy was at 95 percent at the time of closing. The complex includes eight residential buildings and one leasing office, totaling 97,975 square feet, and sits on 9.08 acres. It was built in 1994 with two remodels in 2004 and 2005. Amenities include laundry facilities, walk-in closets, a basketball court, private balconies and more.
Jeff Englert and Nathan Farha of Grubb & Ellis|Martens Commercial Group in Wichita represented the sellers.
