West Coast investor buys 280-unit KC apartment portfolio for $42.5M

Written By Holly Harshman

KANSAS CITY BUSINESS JOURNAL

By Andrew Vaupel – Data Editor, Kansas City Business Journal

Jan 10, 2022 Updated 4 hours ago

Two Kansas City brokers completed the sale of a 280-unit multifamily portfolio in Kansas City for $42.5 million to an investment company based in Newport Beach, California.

The NorthMarq team of Managing Director Jeff Lamott and Vice President Gabe Tovar closed the sale of Fountainhead and Three Fountains for national multifamily investor JB Partners. The buyer was Revitate Cherry Tree.

"Cherry Tree targets workforce housing investment opportunities throughout the Midwest in secondary and tertiary markets that have consistent employment growth and positive net in-migration," Cherry Tree Capital Partners CEO Chris Marsh, a co-founder of Revitate Cherry Tree, said in a Monday release from NorthMarq.

Holly Harshman
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