Steadfast Income REIT earlier this year acquired Library Lofts East, a 118-unit loft conversion in downtown Kansas City. The acquisition cost $12.75 million.
Library Lofts East includes a six-story building built in 1906 and an attached 10-story building built in 1923. The property was renovated and retrofitted in 2003. The property’s studio, one- and two-bedroom units range in size from 610 square feet to 1,240 square feet.
This the fifth Kansas City-area property that Steadfast has acquired.