OVERLAND PARK, KANSAS (September 5, 2019) – Jeff Lamott, managing director of NorthMarq’s Kansas City-based regional office arranged the sale of a multifamily portfolio consisting of 170-unit class A townhomes and apartments located in Lawrence, Kansas. Kyle Tucker, senior vice president and John Duvall, vice president of the Kansas City office arranged financing for the properties.
– Jeff Lamott represented the buyer in the sale of their Orozco Topeka Portfolio and then sourced the Camson Portfolio off-market as the 1031-exchange replacement property through Wilhm Real Estate, a Kansas City broker who represented the seller.
– NorthMarq arranged the permanent-fixed financing on behalf of the buyer through its in-house Fannie Mae team.
– Camson Place: 90 units located at 5125 Overland Drive, Lawrence, Kansas
– Camson Villas: 38 units located 430 Eisenhower Drive, Lawrence, Kansas
– Camson Townhomes: 42 units 5244 Eisenhower Place, Lawrence, Kansas
– The Camson community offers residents best-in-class luxury units with custom gourmet kitchens, granite counters, direct access garages, and close proximity to neighboring boutique retail shopping in desirable west Lawrence, Kansas.
“We were excited to represent Orozco Capital Trust in the sale of their Class B Topeka Portfolio, and utilize a 1031-exchange to move them into a best-in-class Class A community with less deferred maintenance. Our NorthMarq debt team secured historically low interest rate financing allowing our client to reset to their depreciation schedule. The Camson Portfolio offers residents a best-in-class living experience in desirable west Lawrence, Kansas, a submarket which has strong rental demand that is positioned for continued growth.”
– Jeff Lamott