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Avanti Residential Acquires 306-Unit Multifamily In Kansas City, KS For $65M

Property Image
SOLD
$65,000,000
Whittaker Potts
Mac Crowther
Charlie Williams
+ 1

Kansas

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MultiFamily
Sold 12/02/2021
the dealplayerscompscontact
Property Image
SOLD

Avanti Residential Acquires 306-Unit Multifamily In Kansas City, KS For $65M

8343 Leavenworth Road, Kansas City, Kansas 66109, United States

See Similar Deals
MultiFamily
Sold 12/02/2021
Whittaker Potts
Mac Crowther
Charlie Williams
+ 1
the dealplayerscompscontact
Contact now

Summary

KANSAS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 8343 Leavenworth Rd in Kansas City, KS has been sold in a closed transaction. The property consists of 306 units and was sold for a price of $65,000,000, resulting in a per unit price of $212,418. The transaction took place on 12/02/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $65,000,000
  • Units: 306
  • Price Per Unit: $212,418
  • Buyer: Avanti Residential - Christian Garner
  • Seller: JVN Realty Corporation
  • Brokers: Mac Crowther & Whittaker Potts - Newmark
  • Mortgage Broker: Charlie Williams - Newmark

Avanti Residential, represented by Christian Garner, acquired the property from JVN Realty Corporation. The sale was facilitated by brokers Mac Crowther and Whittaker Potts from Newmark. The mortgage broker involved in the transaction was Charlie Williams from Newmark.

Players

Charlie Williams
Newmark
Charlie Williams
2 deals$157M volume
BROKER
Mac Crowther
Newmark
Mac Crowther
1 deal$65M volume
BROKER
Whittaker Potts
Newmark
Whittaker Potts
1 deal$65M volume
BROKER
CG
Christian Garner
2 deals$246M volume
BUYER

Details

SOLD
IMAGE: Christian Garner, Mac Crowther & Whittaker Potts DATE: 12/02/2021 ADDRESS: 8343 Leavenworth Rd MARKET: Kansas City, KS ASSET TYPE: Multifamily BUYER: Avanti Residential - Christian Garner SELLER: JVN Realty Corporation BROKERS: Mac Crowther & Whittaker Potts - Newmark MORTGAGE BROKER: Charlie Williams - Newmark SALE PRICE: $65,000,000 UNITS: 306 ~ PPU: $212,418

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,466,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$230,931.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$308,133.16
Annual Debt Service$3,697,597.94