Sentinel Real Estate Acquires 404-Unit Residential Complex Near Kansas City
Sentinel Real Estate Corporation has acquired Lexington Farms Apartments, a 404-unit garden-style community in Overland Park, KS, 18 miles southwest of Downtown Kansas City.
Originally constructed in 1997, but recently renovated, Lexington Farms features one-, two- and three-bedroom apartments averaging 972 square feet. Over the past two years, a substantial upgrade program was conducted on the property’s common areas, including repainting the building exteriors, remodeling the clubhouse to reflect a contemporary aesthetic and the addition of a business center, Wi-Fi lounge and coffee bar.
“Lexington Farms presented an attractive opportunity to acquire a partially-renovated multifamily development located in a desirable area supported by strong fundamentals, including good schools and strong local employment centers,” said Michael Streicker, president of Sentinel. “We look forward to leveraging our significant expertise to renovate the remainder of the property, realizing additional upside potential.”
Sentinel has been active in the Kansas City market throughout its 53-year history, having owned and operated 17 multifamily properties in the area. In addition to Lexington Farms, Sentinel currently owns three properties nearby: Weston Point Apartments, Corbin Greens Apartments and The Fairways at Corbin Park Apartments, providing enhanced competitive positioning in the submarket.
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