Multifamily X Missouri

CBRE closes sale of two multifamily properties in Kansas City area

CBRE closes sale of pair of multifamily properties in Kansas City area,ph01

CBRE has arranged the sale of two Class-A multifamily properties in suburban Kansas City totaling $104 million in consideration. Copper Ridge Apartments (292 units) and Brighton Creek Apartments (306 units) sold in separate transactions to buyers each making their initial entry into the Kansas City market.

Jeff Stingley, an executive vice president in CBRE’s Kansas City office, along with associates Max Helgeson and Michael Spero, represented the sellers in both sales. While individual sale terms were not disclosed, the buyers are described as national private equity.

Completed in 2019, Copper Ridge is a best-of-class 292-unit luxury apartment community located in Liberty, Missouri. With an exceptional in-fill location near more than 2 million square feet of Class A retail, Copper Ridge was the first apartment community to be built in Liberty since 1988 and features top-of-the-line unit finishes and amenities, including a luxurious modern clubhouse, state-of-the-art fitness center, and resort-style pool with infinity edge.

Brighton Creek, which was completed in 2017 and totals 306 units, is located in Kansas City, Missour, along the fast-growing MO 152 Highway corridor at Brighton Avenue. The property features a combination of traditional luxury apartment units as well as “Big-House” units with direct-access attached garages, and best-of-class amenities including a zero-entry pool with adjacent Jumbotron.