Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Timberland Partners Acquires KC Apartments from Thompson Thrift
Thompson Thrift has sold The Element, a 276-unit multifamily community located in Kansas City, MO. Minneapolis-based Timberland Partners purchased the community for an undisclosed sum.
“Population growth and affordable living costs relative to other Midwestern metros has made Kansas City a popular multifamily market in recent years,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We built The Element to help meet market demands for residents seeking high-end, luxury living options, and are pleased to have another development success story under our belts.”
The Element, located at 8101 NW Barrybrooke Dr. in Kansas City, features three-story, garden-style apartment homes with one-, two-, and three-bedroom layouts averaging 958 square feet. Completed in November 2021, the 95% leased community offers luxury interior amenities.
SVP Gabe Tovar with Northmarq brokered the sale.
- ◦Sale/Acquisition


