Marcus & Millichap announced two Midwest multifamily properties coming to market, represented by David Gaines, Alex Blagojevich, and Michael Sullivan with assistance and support from John Stacy, Kan. Broker of Record, and Will Holman, Mo. Broker of Record. The properties listed for sale are Independence Towers located in Independence, Mo., and Cambridge at River Oaks, in Kansas City, Kan. “Our experience and access to investors in the Midwest, as well as over 20 states across the country, are key to uniting buyers and sellers in a way that other brokers are not able to match, resulting in successful multifamily transactions,” says Gaines. Independence Towers is a 123-unit market rate apartment complex located in Independence, an eastern suburb of Kansas City. Multiple floor plans range from 400 square feet to 771 square feet and offer an attractive list of amenities including laundry facilities, community room, courtyard and storage units. Cambridge at River Oaks is a 230-unit market rate apartment complex located in Kansas City, originally built in 1973 and one of the few properties in Wyandotte County to provide Google Fiber to its residents. Gaines observes, “There is a significant opportunity to increase the average rents at this asset, purely by continuing the processes in place and moving them to market levels already achieved at the asset.” These listings follow the recent closings of six multifamily sales, arranged and led by Gaines, Blagojevich, Sullivan, Stacy, and Holman all of Marcus & Millichap: • Cherokee Village – 96-units – Liberty, Mo. • Prairie Walk – 128-units – Kansas City, Mo. • Links at Parkville – 244-units – Parkville, Mo. • Walnut Tower – 180-untis – Kansas City, Mo. • Colonial Point Apartments – 450-units – Kansas City, Mo. • Oaks at Canterbury Court – 72-units – Ottawa, Ks. • Woodlake Village – 156 Units – Independence, Mo
Additional properties currently under contract include: • Town Center Apartments – 156-units – Overland Park, Ks. • Green Village Townhomes – 304-units – Kansas City, Mo. • Vienna Square Apartments – 89-units – Gladstone, Mo.
“The mid-market group at Marcus & Millichap has been successful in building an increasing market share in Kansas City selling nearly 1900 units year-to-date by coupling regional capital markets expertise with local real estate expertise,” concludes Gaines.