Minneapolis-based Timberland Partners has announced the acquisition of Autumn Park, an apartment community located in Overland Park, Kansas.
The company, founded in 1992, now owns and manages nearly 11,000 apartment units in its portfolio spanning 12 states.
The 232-unit acquisition was funded from Timberland Partners Investment Fund V. This was the eighth property purchased through Fund V, which now holds a grand total of 1,807 units.
Autumn Park’s highly sought after location puts residents at the doorstep of Kansas City’s highest concentration of employers and retail amenities, including the Corporate Woods Office Park, College Boulevard office corridor, and Town Center Plaza lifestyle retail center.
Built in 1973, Autumn Park has benefited from more than $2.5 million in capital upgrades since 2012, including all new siding, new roofs, new entryway doors and windows, and updates to all interior building hallways.
Going forward, the property will be re-branded as Arcadia at Overland Park with plans to further improve the community with updated kitchen features, renovated clubhouse, new exterior signage and landscaping improvements.
Arcadia at Overland Park includes 14 two-story multifamily buildings located on nearly 18 acres of prime real estate, offering one-, two- and three-bedroom floor plans.
The CBRE Kansas City team of Jeff Stingley and Jeff Lamott represented the seller.