PPR Capital Management Acquires 224-Unit Multifamily Property in Kansas City for $33.6 Million
- Editor
- Feb 4
- 2 min read
What's Happening: PPR Capital Management has acquired Infinity at Plaza West, a 224-unit garden-style multifamily community in Kansas City, Missouri, for $33.6 million. The acquisition includes a favorable 3.90% loan assumption and is structured to maximize value-add opportunities while maintaining efficient capital deployment.
The Key Moves:
PPR structured the $33.6 million acquisition with a total equity investment of $11.4 million, contributing $10.2 million as the primary equity partner.
This is PPR's second investment in the Kansas City metropolitan area, following a 200-unit townhome community acquisition in Overland Park, KS in December 2023.
PPR partnered with Aspen Funds as the General Partner and Petra as Co-GP and on-site property manager for this investment.
By The Numbers :
Total acquisition cost: $33.6 million
Total equity investment: $11.4 million
PPR's equity contribution: $10.2 million
Key Quotes:
"This acquisition further demonstrates PPR's ability to identify and secure properties with strong value-add potential in growing locations," said Steve Meyer, CEO of PPR Capital Management.
"By acquiring this asset below market basis with attractive financing terms, we are well-positioned to implement our capital improvement strategy and create additional value for our investors," Meyer added.
Chris Cordes, Director, Multifamily Investments at PPR Capital Management, stated: "The property's historically strong occupancy and prime location, combined with our planned improvements, align perfectly with our deliberate investment strategy of acquiring well-located assets with significant upside potential."
The Bottom Line: PPR Capital Management's acquisition of Infinity at Plaza West in Kansas City demonstrates the fund's strategic approach to multifamily investments in growing markets. By leveraging favorable financing terms and partnering with experienced co-investors, PPR aims to create value through property improvements and capitalize on the strong fundamentals of the Kansas City real estate market.
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