Sentinel Buys Kansas City Community
The company is planning to make additional renovations to the property.
Sentinel Real Estate has acquired Lexington Farms Apartments, a 404-unit Class A community in Overland Park, Kan. The seller was Crow Holdings.
The property last traded for $61.9 million in 2020, when Crow Holdings bought the asset from JMG Realty, according to Yardi Matrix data.
Built in 1997, Lexington Farms Apartments underwent substantial upgrades over the past two years. As a result of the renovation program, the property’s common areas were refurbished, along with two-thirds of the units.
The community encompasses one-, two- and three-bedroom apartments with an average size of 972 square feet. Interiors feature modern kitchens with stainless steel appliances, quartz countertops and kitchen islands, walk-in closets, carpeted bedrooms and private balconies. Common-area amenities include a clubhouse, a business center, a lounge, a coffee bar and demonstration kitchen, a fitness center, a sauna, a tennis court, a dog park and two swimming pools. Sentinel is now planning to renovate the remaining units.
Situated on 35 acres at 8500 W. 131st Place, the community is approximately 20 miles southwest of downtown Kansas City, providing easy access to interstates 435 and 35, as well as U.S. Route 69. Dining and retail options are available in the immediate area, along Antioch Road and 135th West Street.
Lexington Farms Apartments is Sentinel’s latest addition in the area. The company owns three other properties nearby, including Weston Point Apartments, Corbin Greens Apartments and The Fairways at Corbin Park Apartments, having been active in the Kansas City market for 53 years. Recently, Sentinel has acquired a 164-unit community in downtown Dallas.