Marcus & Millichap Sells 200-Unit Apartment Community in Overland Park, KS

OVERLAND PARK, KS – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Plaza Gardens Townhomes, (top right photo) a 200-unit multi-family community in Overland Park.

Will Balthrope, (top left photo) an associate vice president investments and a senior director of Marcus & Millichap’s National Multi Housing Group in Dallas, along with Christopher Helvey (middle right photo) and Michael Sullivan,(bottom left photo) both associates in the firm’s Kansas City office, represented the seller, a local developer.

Marcus & Millichap also represented the buyer, a Phoenix-based investor.

“Plaza Gardens was an excellent opportunity for the buyer to acquire a Class A multi-family community with unique, high-demand units in an outstanding location in Kansas City,” says Sullivan.

“There is tremendous upside in this apartment community through utility bill back, management streamlining and continued capital infusions, and the rents are significantly below market,” adds Helvey.

Located at 13900 Newton, the 307,600-square foot apartment community consists of 32 three-story buildings situated on 20.08 acres.

Plaza Gardens Townhomes features a mix of two- and three-bedroom units. The units are well appointed with full kitchen packages, walk-in closets, full-size washers and dryers, attached garages, central HVAC, and private patios.

Community amenities include a swimming pool, hot tub, tanning salon, fitness center, multiple playgrounds and a business center.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716