Wednesday, June 29, 2016

L5 Investments Partnership Completes $1.7 Million Renovation of Whispering Lake, a 384-Unit Apartment Community in Kansas City, MO

Kansas City, MO, June 29, 2016 – A partnership between L5 Investments and BH Equities has completed a major renovation and repositioning of Whispering Lake, a 17-building, 384-unit apartment community located at 10415 East 43rd Street in Kansas City, MO.

The partnership recently completed in excess of $1.7 million of renovations and had its official grand re-opening on June 22. At 95 percent, the property’s occupancy is increasing, renter interest has elevated, and the ownership has been able to secure stronger rents for the recently upgraded units.

Whispering Lake Clubhouse
Built in 1989, the one-of-a-kind, lake-front community situated on 8.19 acres of land offers residents large floor plans, in-unit washer and dryer, and private balconies and patios. 

Community amenities include a swimming pool, clubhouse, fitness center, and an 18-acre lake and dock. It is located within walking distance to public transportation and a wide variety of national retailers, and is just two miles from Arrowhead Stadium (KC Chiefs – NFL football franchise) and Kauffman Stadium (KC Royals MLB baseball franchise). 

The renovation program for Whispering Lake included a complete renovation of the lakefront leasing center and lounge area; new floating dock and seating; interior renovations; updated pool area; and the addition of outdoor areas that include a new playground, dog park and community event and barbeque area.  The renovation was completed approximately 12 months after the partnership acquired the asset.

Michael Flaherty
“Whispering Lake presented our partnership with a stabilized asset unlike any other in the local market.  Our completed renovation and lake-front upgrades have transformed the property into a community that will be desirable for the long term,” said Michael Flaherty, founder and managing partner of L5 Investments, a Northern California-based multifamily investment firm. 

“We are extremely pleased at the results of this strategic repositioning and are already realizing market rents as we meet area demand for quality rental living.”

“Our goal with all of our design and construction projects is to remove the obsolescence from our communities and offer contemporary spaces that meet the needs of today’s apartment seeker,” said BH Companies founder and chair Harry Bookey. 

“Whether it is enjoying a coffee in one of our cyber cafés, or relaxing by one of our resort-style swimming pools, we work hard to provide the upscale amenities that many would only expect to find at much higher-priced communities.” 

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

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