Finance X Missouri

Berkadia sells 408-unit multifamily property in Kansas City

Berkadia sells 408-unit multifamily property in Kansas City,ph01

Berkadia closed the sale of The Kings, a 408-unit garden-style multifamily property in Kansas City, Missouri. Senior Managing Director Alex Blagojevich of Berkadia’s Chicago office, along with Senior Director Michael Sullivan and Director Brett Meinzer of Berkadia’s Kansas City, Missouri, office completed the sale.

Berkadia represented the seller, a joint venture between Sundance Bay and Drake Real Estate Partners. The buyer was Florida-based Stoneweg US, LLC., which has been active in the Kansas City Market, acquiring more than 1,000 units in the last three months. The deal closed on Sept. 19.

Located at 11330 Colorado Ave., the property features studio, one-, two- and three-bedroom floor plans with dishwashers, granite countertops, hardwood floors, vaulted ceilings and walk-in closets. Community amenities include a clubhouse, a barbecue area, laundry facilities, a playground and two swimming pools.