Blackstone Sells Kansas City Asset for $90M
Investment volume in this market is outpacing last year by a wide margin.
Blackstone’s LivCor has sold Cyan Southcreek, a 380-unit asset in Overland Park, Kan., for $90 million, according to Yardi Matrix data. Bonaventure Senior Living purchased the property with Freddie Mac acquisition financing to the tune of $53.8 million issued by Wells Fargo.
The community debuted in 2021. It encompasses seven three- and four-story buildings consisting of one- to three-bedroom floorplans ranging between 661 and 1,471 square feet. Common-area amenities feature a gym, swimming pool, clubhouse and business center, among others.
Located on more than 16 acres at 13220 Foster St., Cyan Southcreek is roughly 20 miles southwest of downtown Kansas City, Mo. A shopping center and office building campus are within walking distance, while thoroughfares such as interstates 435, 35, as well as U.S. Route 69, run less than 10 miles away.
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Multifamily transaction volume across Greater Kansas City clocked in at $407.1 million during the first seven months of 2025, significantly higher that the $135.1 million recorded last year during that same time frame, according to Yardi Matrix data. Sales in the last two years crossed the $500 million-mark, but overall investment activity still remained lower than the $2.2 billion in assets changing hands registered in 2021.
Blackstone’s recent multifamily deals
Blackstone has been wrapping up some holding periods, as this is the latest in a series of recent divestments. Just last month, it sold CityPark View Apartments for $107.5 million, nearly doubling the 2015 acquisition price of $66.7 million. Weidner Apartment Homes purchased that 484-unit asset in Charlotte, N.C.
Earlier this year, Blackstone sold a two-asset collection to Brookfield Properties for a combined $139 million. One of the communities, the 349-unit Beacon Hill in Charlotte, changed hands for $43 million, while the other property, a 432-unit asset in Chandler, Ariz., commanded $95.5 million.
