Northmarq’s Kansas City office completes $9.55M sale and financing of the Fontainebleau Apartments in Topeka, KS

TOPEKA, Kan. (Feb. 5, 2025) — Northmarq’s Kansas City Multifamily Investment Sales team led by Jeff Lamott and Casey Wilhm successfully brokered the $9,550,000 million sale of a 112-unit unit multifamily property in Topeka, Kansas. John Duvall with Northmarq’s Debt + Equity team procured new agency financing for the buyer.

“Topeka continues to benefit from strong rent growth concurrently with the Midwest,” said Lamott. “We continue to see an abundance of capital deploy equity into tertiary markets as investors look for steady cash flow in the Midwest.”

Built in 1965, Fontainebleau Apartments offers large one- and two-bedroom units on a quiet, secluded 10-acre property located in Topeka’s western submarket.

Northmarq represented the seller, Kansas City-based Worcester Investments. The buyer was Westport Properties based out of Newport Beach, California.

“Fontainebleau had been meticulously maintained over the years with only two prior ownerships since 1965,” Lamott added. “The units were virtually in all classic condition, offered the largest square footage in the submarket at 1,100 sq. ft., and included washer and dryer connections which is rare for this vintage.”

Fontainebleau Apartments boasts a peaceful community atmosphere with proximity to Topeka’s premier retail corridor, Wanamaker Road, and only 10 minutes from the central business district. Residents enjoy a resort-style swimming pool, modern fitness center, sauna rooms and clubhouse.