Northmarq completes sale and financing of 456-unit community in Kansas City, Missouri

KANSAS CITY, MISSOURI (March 6, 2023) — Northmarq’s Midwest investment sales team of Gabe Tovar, Jeff Lamott, Parker Stewart and Dominic Martinez arranged the sale of Timberlane Village in Kansas City, Missouri. The property features 456 units and was offered to market for the first time on behalf of its original developer. 

Northmarq’s Daniel Stickane, senior vice president in debt and equity, secured acquisition financing for the buyer, Venterra Realty, with a fixed-rate loan through Northmarq’s in-house Fannie Mae team.

“We continue to see investor conviction toward the underlying fundamentals in durable Midwest markets, and for this sale specifically, the underwriting of expansive economic development in South Kansas City. Timberlane’s size and exceptional condition generated multiple offers from regional and national investors, several of whom were pursuing the opportunity as their first in this market,” said Tovar.  

Built in 1987, Timberlane Village is a 456-unit community with 40 two- and three-story buildings spread across 27 acres. The property includes one-, two-, and three-bedroom units ranging from 704 to 1,253 square feet. Located in the South Kansas City submarket, the property is adjacent to Oracle Cerner’s Innovation campus and proximate to other market-leading employment anchors in technology, healthcare, engineering, and logistics. Timberlane Village is also just five minutes from The Glade, a 325-acre mixed-use development projected to generate over 4,000 jobs and become home to 7,000 new residents. 

The sale marks Venterra’s first acquisition in the Kansas City market.

Apartment features include: Black appliances, luxury vinyl tile flooring, laminate countertops, storage on balcony/patio, washer/dryer connections, and fireplaces. Community amenities include: Outdoor and indoor swimming pool, tennis court, fitness center, sauna, clubhouse, covered parking, gated community, and expansive green space with sidewalks throughout.