Friday, 04 January 2013

GFI Capital Pays $98.65Mln for 3 Kansas City-Area Apartment Properties

Written by 
Rate this item
(0 votes)

GFI Capital Resources has paid $98.65 million for three apartment properties with 846 units in the Kansas City, Mo., area.

The three properties are: Villas at Carrington Square, with 278 units at 9801 West 136th St. in Overland Park, Kan.; as well as Carrington Place at Shoal Creek, with 270 units at 9300 Northeast 87th St. and Carrington Park, with 298 units at 8501 North Platte Purchase Drive, both in Kansas City, Mo. They were purchased from Davis Development of Atlanta, which had developed them.

GFI Capital, a New York company that provides a variety of real estate services and insurance products, purchased the properties through its Irongate Realty Partners unit, which has invested more than $230 million for eight properties with 2,115 units over the past 14 months.

Irongate Realty aims to pursue additional acquisitions of class-A and B+ properties in certain markets, such as South Florida, Eastern Tennessee, Charlotte, N.C., and coastal South Carolina with between 250 and 350 units each. It will also seek value-add opportunities in Georgia, Texas, Arizona and Nevada.

Comments? E-mail Orest Mandzy, or call him at (267) 247-0112, Ext. 211.

CREDirect Logo
Authoritative, timely and unbiased market intelligence trusted by the most active players in the commercial real estate space.

Experience CREDirect for just $1!

Who is buying, Who is selling, Who is raising capital, Where it is being invested, How deals are being financed
  • Every business day we identify investment, lending and trading opportunities.
  • Subscribers have full access to more than 13 years of CMBS data including our CMBS Pricing Matrix, which allows you to keep track of pricing trends for generic CMBS, and our CMBS Databases, with key data points on every domestic CMBS deal issued since 2000.
  • With a searchable archive of more than 90,000 articles going back to 1999 and a property sales database with more than 13,500 tranactions, each valued at more than $10 million, CREDirect is an extremly powerful research tool.
  • User-customized email alerts allow you to choose criteria that you are particularly interested in and receive email alerts when we publish articles that match your interests. Alerts are based on: City, State, Sector, Subject, Company, Valuation or CMBS Deal Name.

Additional Info

  • Syndicate to Realpoint: No
  • Cities: Kansas City
  • States: Missouri
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $50 million and $100 million
  • Private: No
Read 64 times

Subscriber Login

Follow us on:

in Follow on Facebook Follow on Twitter


Receive daily updates

With dozens of articles published every day, you'll always have the latest intelligence on:

  • Key executive changes.
  • CMBS trading activity.
  • Major financing assignments.
  • Portfolio Allocation Changes.
  • High Value Transactions.