Northmarq completes $23.8 million sale of Province of Briarcliff in Kansas City, Missouri
Kansas City, Missouri (January 10, 2023) — Jeff Lamott and Gabe Tovar of Northmarq’s Kansas City- based investment sales office arranged the $23.8 million sale of Province at Briarcliff. The 120-unit multifamily property (built in 2002) located at 1282 Northwest Vivion Road in Kansas City, Missouri. Northmarq exclusively represented the seller, Forum Real Estate Group and the buyer was Peak Capital Partners.
“Province of Briarcliff offered an attractive assumable agency loan well below today’s borrowing cost. The property’s prominent infill location is just minutes from the prestigious Village of Briarcliff and commanded a lot of interest from both national and regional investors.” said Lamott.
The property is located in the Briarcliff West neighborhood, which lies north of the Missouri River along parkland featuring stunning cliffs. The neighborhood is part of the larger Briarcliff Village planned community of homes, retail, offices, condos, and apartments off of HWY 69 and I-29. The property has three shopping centers within 1.6 miles including Eastbrook Plaza Shopping Center (0.4 miles), Briarcliff Village (1.2 miles), and Vienna Square (1.6 miles). Lovers of the outdoors are only a short drive from more than five parks all within a 10.8 mile radius.
Community amenities include: Business center, clubhouse, fitness center, pool, and sundeck. Apartment amenities include: In-unit washer/dryer, microwave, built-in bookshelves, balcony and garages in select units.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
