Artisan Capital Buys Kansas Communities for $25M
- Mar 20, 2020
Artisan Capital Group has acquired the 254-unit Country Club on 6th and the 148-unit Eagle Ridge Apartments in Lawrence, Kan., for a combined price of more than $25 million.
According to Yardi Matrix data, Inco Real Estate sold the first property, while DJT traded the second one. NorthMarq represented both sellers and secured financing on behalf of the buyer.
Country Club on 6th comprises a mix of studio, one-, two-, three- and four-bedroom units. Common-area amenities include a fitness center, business center, clubhouse, tennis court and two swimming pools. Located at 2512 W. Sixth St., the community is within one mile of Interstate 70 and is four miles from Lawrence Municipal Airport.
Yardi Matrix shows that Eagle Ridge came online in 1994 and comprises one- and two-bedroom apartments. Common area amenities include laundry facilities and a playground.
NorthMarq’s sales team included Managing Director Jeff Lamott and Associate Vice President Gabe Tovar. Senior Vice President Brett Hood arranged the financing. In July 2019, Lamott represented both parties in a three-asset Class B portfolio sale in Topeka, Kan.