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Chicago & Midwest  + Midwest  + Apartments  |  June 23, 2025
Jasmine Kilman
By: Jasmine Kilman

JLL Facilitates Equity Placement for Residential Property in Kansas

JLL has arranged equity placement for The Residences at Lexington, a 382-unit garden-style multifamily development project in De Soto, Kansas.

JLL represented Alcove Development. The investor was Red Starr Investments. The Residences at Lexington, located at 34040 W 90th Cir., is positioned close to both the new 4.7 million-square-foot Panasonic electric vehicle battery plant and the $895 million expansion of Merck Animal Health’s manufacturing facility.

The Residences at Lexington, a two- and three-story garden-style community, will offer 325,811 square feet of rentable space across 382 units. JLL’s Capital Markets Debt Advisory team was led by Director Kevin Barron.

“The successful arrangement of equity for The Residences at Lexington highlights the strong demand for multifamily housing in this rapidly growing area,” said Barron. Alcove Development, a local real estate development company with extensive experience in the De Soto market, plans to complete construction in October 2026, with the first units delivered in June 2025.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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