Berkadia successfully facilitated the sale of Silverwood Apartments, a 280-unit garden-style multifamily property located in Mission, Kansas. The transaction was led by Senior Director Michael Spero and Associate Director Niko Vrentas from Berkadia’s Kansas City office on behalf of the seller, Canyon View Capital based in California.
The buyer for this property was Utah-based Parkwest Real Estate Partners in partnership with Wisconsin-based MLG Capital. As part of the purchase agreement, Parkwest assumed the existing Freddie Mac loan. This acquisition marks their first investment in the Kansas City market. Situated at 5100 Fox Ridge Drive, Silverwood Apartments offers convenient access to major employers as well as popular shopping, dining and entertainment options.
According to Spero: “The recent sale of Silverwood Apartments highlights a growing trend where national investors are showing strong interest in Midwest markets like Kansas City.” He also noted that this is Parkwest’s first venture into this region which further demonstrates an influx of new capital into Kansas City.
This news originally appeared on Connect CRE website.
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