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Chicago & Midwest  + Midwest  + Apartments  | 

KC-Area Apartments Trade for Combined $105M

CBRE recently arranged the sales of two multifamily communities in suburban Kansas City, totaling 468 units and $105 million. The sales included Prairie Pines Townhomes in Shawnee, KS and Kenilworth Apartments in Prairie Village, KS. Individual sale prices and terms were not disclosed.

CBRE’s Jeff Stingley, Max Helgeson and Michael Spero represented the seller in each transaction. “Kansas City continues to be a highly-attractive location for national multifamily capital,” said Stingley. “Nearly all submarkets across the metro are seeing economic development propel employment and population growth.”

Prairie Pines is a 220-unit luxury townhome community completed in 2019 by Hickok-Dible Company. It was sold to Kansas City-based Nolan Real Estate Services, a vertically integrated real estate company.

Kenilworth is a 246-unit community originally constructed in 1964 by JC Nichols Co. The property was sold to Denver-based Avanti Residential, which owns and operates 30 properties across Colorado, Arizona, Utah and Kansas.

Pictured: Prairie Pines.

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Inside The Story

CBRE’s Stingley

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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