Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
BAM Capital Acquires 328-Unit Kansas City Apartments
BAM Capital has acquired Kinsley Forest Apartments, a multifamily community located in Kansas City, Missouri.
The property marks the second acquisition within the BAM Multifamily Growth Fund V and the third in the BAM Preferred Credit Fund. It further expands the BAM Capital footprint in a high-growth Midwest market.
Built in 2018, Kinsley Forest offers 328 modern apartments in the Clay County submarket, an area characterized by strong population growth, limited new supply, and significant economic investment. The acquisition was completed at a compelling basis, approximately 12% below replacement cost and 14% below the average price per unit for comparable suburban Class A assets.
“Kinsley Forest represents exactly what we look for — a high-quality asset in a strong submarket, acquired below replacement cost, with substantial operational upside,” said Ivan Barratt, Founder and CEO of The BAM Companies. With third-party management in place at acquisition, BAM Capital will transition operations to its vertically integrated platform, BAM Management.
