NorthMarq’s Kansas City office arranges sale of 426-unit multifamily portfolio in Kansas City for $21.2 Million
KANSAS CITY, MISSOURI (November 2, 2020) – Jeff Lamott, managing director and Gabe Tovar, associate vice president, arranged the sale of a 426-unit three-property multifamily portfolio on the behalf of Urban Southwest Capital to FTW Investments. The properties are located in the Kansas City submarket of Independence, Missouri. Kyle Tucker and John Duvall arranged financing for the Hudson Community through the company’s exclusive status as a Freddie Mac Optigo lender. The properties involved in the sale were the Hudson, a 253-unit property at 1401 S. Cunningham Ave; Meadowbrook, a 113-unit property at 2141 S. Swope Drive; and Winner Place, a 60-unit property at 9528 Winner Road.
“The Independence Portfolio went to market one week before the pandemic onset and generated significant national interest. Despite economic volatility across the country, investors are vying for opportunities in Kansas City as it remains one of a few Midwest markets posting continued rent growth and positive net migration.” said Lamott.
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