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$82M KC Apartment Sale Clears Hurdles to Close
Berkadia arranged the sale of Coach House, an 807-unit garden-style multifamily property in Kansas City, MO. The property was traded for a total price of $81.5 million.
A Berkadia Mid Markets Group team of Alex Blagojevich, Michael Sullivan, Brett Meinzer and Dominic Martinez completed the sale on behalf of the seller, Virginia-based Harbor Group International (HGI).
HGI purchased Coach House as part of a $1.85-billion portfolio and quickly identified the asset as a prime candidate for disposition. The buyer, a private individual based in San Francisco, had to recapitalize multiple assets, a process that included an agency refinancing, also completed by Berkadia.
“This deal already had a number of complicating factors that made closing more difficult than usual,” said Blagojevich. “Not the least of which was the addition of the pandemic shutdown which hit almost immediately after the parties went under contract.” Yet it closed on its original terms.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
