NorthMarq Arranges KS Portfolio Transaction
- Jul 12, 2019
Orozco Capital Trust has sold three multifamily properties in Topeka, Kan., to Vertex Investments. Jeff Lamott, senior vice president & managing director of NorthMarq’s Kansas City regional office, arranged the sale on behalf of both parties. Totaling 216 units, the portfolio encompasses Class B workforce housing properties.
Shawnee Lake is the largest community that changed hands. The 117-unit asset, located at 3613 S.E. 30th Terrace right across Shawnee Lake, includes one- and two-bedroom apartments. The smallest asset that traded is Brentwood Apartments, a 34-unit property at 4301 S.W. 15th St.
Located at 5991 S.W. 22nd Park, Wanamaker View contains 65 one- and two-bedroom units, ranging between 550 and 830 square feet. The property is within walking distance of shopping, dining and entertainment options around the West Ridge Mall. Washburn University is just a short drive away. According to Lamott, the three properties built in the 90s are well-maintained and feature nearly 100 percent occupancy rates. The new owner plans to upgrade amenities at all three properties.
Recently, another NorthMarq team represented both the buyer and the seller in a multifamily deal in Phoenix. Trevor Koskovich, Bill Hahn and Jesse Hudson arranged the sale of Solano Ridge for $56.7 million.
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