Berkadia Completes Sale and Secures $53.3M in Financing for 448-Unit Multifamily Property in Kansas City Metro
San Francisco and Kansas City – December 3, 2024 – Berkadia announced today the sale and financing for The Highlands, a 448-unit garden-style multifamily property located in Overland Park, Kansas. Senior Managing Director Jason Parr, Managing Director Scott MacDonald, and Director John Hansen of Berkadia San Francisco, along with Senior Director Michael Spero and Associate Director Niko Vrentas of Berkadia Kansas City, completed the sale on behalf of the seller, California-based St. Regis Properties LLC, and the buyer group, who acquired the deal through San Francisco-based sponsor, Hamilton Zanze & Company. The deal closed on November 14.
“The highly competitive sales process that we witnessed with the marketing on The Highlands speaks volumes not only about St. Regis Properties’ strong ownership, pride in management, and overall maintenance of the property, but also to the continued national and international demand for multifamily investments within the Kansas City metro,” said Spero and Parr. “Hamilton Zanze had a tremendous amount of competition here and earned this acquisition through their strategic approach during the acquisition process.”
Managing Director Clay Akiwenzie of Berkadia San Francisco secured $53.3 million in permanent acquisition financing on behalf of the buyer. The 10-year loan was financed through Fannie Mae.
“This transaction is a testament to our commitment to providing tailored financing solutions that meet our clients’ goals,” said Akiwenzie. “We’re excited for the buyer and are thrilled to have facilitated this deal.”
Located at 10020 W 80th St., The Highlands features one-, two-, and three-bedroom floor plans with in-unit washers and dryers, walk-in closets, balconies or patios, and nine-foot ceilings. Community amenities include two saltwater swimming pools, a fitness center with deluxe equipment, a renovated clubhouse, and a business center with work-from-home spaces. The property also affords residents convenient access to Downtown Kansas City, Missouri, by way of Interstate 35, local shops and restaurants in Downtown Overland Park, and a wide variety of major metro employers.