29th Street Capital (29SC) has acquired 79 Metcalf Apartments in Overland Park, KS. The purchase marks the Chicago-based firm’s first multifamily acquisition in the Kansas City metro area. Terms weren’t disclosed.
Built in 1984, 79 Metcalf Apartments is a 280-unit Class C community. 29SC’s capital improvement plan includes a full renovation of all units, enhancing amenities and installing new exterior siding. 29SC’s in-house property management service, Haven Residential, will oversee management and leasing.
“We believe this investment represents a unique opportunity to capitalize on the asset’s location in one of the most sought-after submarkets in Kansas City while also upgrading and repositioning it,” said Josh Lindley, 29SC’s SVP of acquisitions.
Citing projections of strong growth in population and median income over the next five years, Lindley added, “Demand in the submarket is driven by access to large employment centers, walkable downtown entertainment options and easy access to outdoor activities.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!