L5 Acquires 395 Unit Property in Kansas City

[Mike Flaherty]

Sacramento, CA - L5 Investments, a Northern California-based multifamily investment firm is pleased to announce the successful closing of a 395-unit apartment community in Kansas City, MO.  The property, built in 1989, is a one of a kind, lake-front community within walking distance to numerous Fortune 500 retailers.  An $11.8M Freddie Mac loan was sourced via Grandbridge Capital.

The property is well positioned and stands to benefit from L5’s $1.7 million rehab program which will significantly impact the property with a complete remodel of the leasing center, business center, fitness center, model unit, new amenity areas, improved landscaping and an interior upgrade program.  

This property is expected to be another strong performing asset for L5’s growing portfolio.  Ownership is a joint venture with L5 Investments and BH Equities.

 

L5 Real Estate Investments continues to provide best in class wealth and asset management via well located, yield driven multifamily assets where improved operations and physical improvements maximize earnings and build wealth.