65.4 F
Los Angeles
HomeReal EstatePPR Capital Management Announces 200-Unit Multifamily Acquisition in Overland Park, Kansas

PPR Capital Management Announces 200-Unit Multifamily Acquisition in Overland Park, Kansas

PPR Capital Management Announces 200-Unit Multifamily Acquisition in Overland Park, Kansas

The deal is part of the firm’s strategic focus on investing in markets that are poised for growth and stability

BERWYN, Pa., Jan. 18, 2024 /PRNewswire/ — PPR Capital Management (PPR), a private equity real estate investment firm, is pleased to announce the acquisition of Madison Overland Park, a 200-unit multifamily townhome community located in Overland Park, KS. PPR has also secured a loan assumption deal on the property, featuring a favorable 3.90% interest rate with three years until maturity.

The newly acquired property is situated in one of the nation’s top school districts, just south of Kansas City. With current unit rate pricing below market value, it is prime for a significant increase in the coming years in addition to a forecasted 4% year-over-year rent growth. The community itself offers spacious 2- and 3-bedroom townhomes featuring custom designer finishes and superb amenities, including a pool, fitness center, walking trails and dog park.

“The acquisition of Madison Overland Park emphasizes PPR’s ability to capitalize on valuable opportunities in growing markets,” said Steve Meyer, CEO of PPR Capital Management. “This deal aligns seamlessly with our mission to invest in properties and markets with sustainable growth potential.”

The remaining 88 unoccupied units at Madison Overland Park will be renovated during the three-year hold period as part of PPR’s value-add strategy.

Chris Cordes, Real Estate Portfolio Manager at PPR Capital Management, added, “We are thrilled to participate in this acquisition, which illustrates our commitment to providing our investor community with diversified assets that exhibit long-term potential, while also providing high quality housing options to the local community.”  

About PPR Capital Management
PPR Capital Management is a private equity real estate firm that manages investment offerings which primarily invest in distressed assets and mortgages, as well as residential and commercial real estate throughout the United States. Founded in 2007, PPR’s mission has been to provide financial wellness to our investors while making a positive social impact on the communities in which we invest, live, and work. For more information, please visit our website at pprcapitalmgmt.com

SOURCE PPR Capital Management

Originally published at https://www.prnewswire.com/news-releases/ppr-capital-management-announces-200-unit-multifamily-acquisition-in-overland-park-kansas-302037677.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv