Denver-Based Avanti Acquires Downtown Kansas City Apartments
Denver-based Avanti Residential has acquired Artistry Apartments, a 341-unit Class-A apartment community in Kansas City, MO, from developer Milhaus for $94 million. The purchase marks Avanti’s seventh investment in the Kansas City metro area.
Built in 2021, Artistry was awarded the 2021 Capstone Award, Kansas City’s preeminent honor for commercial real estate development. The project features a mix of micro, studio, one- and two-bedroom apartments, along with 11,675 square feet of retail.
“We are pleased to have uncovered this investment opportunity in Kansas City, a market we have come to know quite well over the past several years,” said Avanti president Christian Garner.
Avanti and Milhaus were both represented by CBRE’s Jeff Stingley and Max Helgeson. In addition, CBRE Capital Markets in Denver and Kansas City arranged acquisition financing for Avanti.
Stingley called the downtown Kansas City acquisition “yet another strong endorsement for the submarket from national multifamily capital.”
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).
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