Affordable Community Trades in KC
- Jan 10, 2019
A private investor has sold The Creeks of Gladstone, a 260-unit fully affordable community near Kansas City, Mo., to Peak Capital Partners, according to Yardi Matrix. CBRE Capital Markets provided acquisition financing to the buyer, totaling $11.3 million through Fannie Mae.
Located at 41 N.E. 60th Terrace in Gladstone, Mo., the community is roughly 1 mile from Highway 169, 8 miles north of downtown Kansas City. The metro’s transit system operates a bus stop near the property, connecting it with the wider region.
The Creeks of Gladstone’s 25 buildings contain a unit mix comprising studio, one-, two- and three-bedroom apartments. Floorplans range from 400 to 1,340 square feet. Community amenities include three swimming pools, a playground, laundry facilities and approximately 260 parking spaces.
On the southern side of the metro area, Greystone secured a nearly $5 million Freddie Mac loan for an affordable community owned by Triumph Affordable Housing.
Image courtesy of Yardi Matrix