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Chicago & Midwest  + Midwest  + Apartments  | 
Park 67 apartments Shawnee KS

Repositioned Apartments Mark Buyer’s Entry into Kansas City

NorthMarq’s Kansas City investment sales team of managing director Jeff Lamot and VP Gabe Tovar completed the $35.5-million sale of Park 67, a 352-unit community in the suburban Kansas City submarket of Shawnee, KS.  NorthMarq represented the seller, Worcester Investments. The buyer was Greystone Capital Holdings LLC., making its initial entry into the Kansas City market. 

Park 67 was built in 1969 and recently achieved rent premiums on 30% of the units through full interior upgrades. It features a resort-style swimming pool, fitness center, playground, on-site laundry facilities and a business center 

The property operated in the affordable housing program for many years and was among the last large-scale communities in the submarket to receive a full reposition. 

“Park 67 has significant proven upside in what is already a high rent growth submarket,’ said Lamont. “Being able to immediately scale within the area on 352 units was compelling to the buyer.” 

Read More News Stories About: Greystone
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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).

  • ◦Sale/Acquisition
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