Continental Realty Buys Kansas City Asset
The 225-unit Overland Park property came online last year,
Carson Development has sold the 225-unit Carson Street Towers in Overland Park, Kan. Continental Realty Group was the buyer. Marcus & Millichap represented the seller and procured the buyer.
Located at 6741 W. 135th St. in Overland Park, some 20 miles south of central Kansas City, the property was built in 2020 on just over 2 acres. It comprises four different floorplans ranging from one- to three-bedroom units between 617 and 1,457 square feet, according to Yardi Matrix. Units include washers and dryers, dishwashers and air conditioning. The community offers amenities such as a fitness center and swimming pool.
The six-story community is adjacent to the Von Maur department store and close to many other shops and restaurants. A good number of other retail, dining and entertainment options are available within a 1-mile radius. Interstate 69 is also 1 mile away.
This sale underpins increasing interest and activity in the Kansas City multifamily market over the past six months, Jason Hornik, senior associate at Marcus & Millichap, said in a prepared statement. He added that the stream of new developments and investors is bolstered by the gradual return to normalcy for the Midwest.
Hornik, along with Senior Associate Greg Parker, First Vice President Ryan Bowlby, Senior Director Greg Price and Senior Managing Director Drew Isaac formed the Marcus & Millichap team that secured the sale.