Watermark Residential completed the sale of Watermark at Tiffany Springs, a 276-unit Class A multifamily community in Kansas City, MO for $60 million. The buyer was an entity controlled by A&C Ventures, Inc., a private investment firm based in Sonoma, CA.
“We were able to build Watermark at Tiffany Springs under budget, stabilize occupancy and sell this community for attractive returns in just 36 months,” said Josh Purvis, managing partner of Watermark Residential. “Even in the current environment, Watermark at Tiffany Springs was able to reach stabilization, further affirming Watermark’s ability to deliver sought-after communities based on style, convenience, location and luxury.”
Watermark at Tiffany Springs is located at 9641 N. Ambassador Dr. It’s one of two Watermark properties in the Kansas City area and one of four in the state of Missouri.
Mac Crowther and Whittaker Potts with Newmark represented Watermark on the sale.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).