Continental Realty Advisors and MLG Capital Acquire 269-Unit Manor Homes of Eagle Glen Apartment Community in Kansas City, MO.
July 31, 2018 13:58 ET | Source: Continental Realty Advisors
KANSAS CITY, MO., Jul. 31, 2018 — Continental Realty Advisors, Ltd., a Denver-based national multifamily investment and management firm, in partnership with Milwaukee-based MLG Capital, announced today the acquisition of Manor Homes of Eagle Glen, a 269-unit apartment community in Raymore, MO a suburb of Kansas City.
“We are excited for our second partnership with MLG Capital, acquiring a well-built property in fast growing suburb of Kansas City,” said David Snyder, president and CEO of Continental Realty Advisors. “Having owned successful assets in nearby Lee’s Summit, and now our second transaction with the developer, we are very familiar with the asset and area. Manor Homes is in a safe and developing area of KC with high median income levels and great schools. The property is minutes from the Belton Regional Medical Center and a 10-minute drive to the Cerner Innovation Campus that will eventually be home to nearly 25,000 employees, currently under development. Manor Homes is another strong acquisition and stable addition to our growing multifamily portfolio.”
Completed in 2008, the 98.5% occupied Manor Homes of Eagle Glen is located in the Belton/Raymore submarket, one of the fastest growing areas in Kansas City. The two-story property features one-, two- and three-bedroom apartment homes, with nine-foot ceilings and washer & dryer connections in all units. In addition to ample surface parking for residents, available covered-parking options include attached garages, detached garages, as well as carports. Amenities include a state-of-the-art fitness center, saltwater swimming pool, BBQ grills, jogging trail access, media lounge, business center, internet café, clubhouse, and leasing center. The partnership has plans for improvements to the community’s common areas and amenities and intends to implement a programmatic renovation program to the unit’s interiors.
About Continental Realty Advisors
Continental Realty Advisors (“CRA”), an owner, asset manager, and institutional fund sponsor, was founded in 1981 and has solely focused on investment in the multi-family segment of real estate. The company is an institutional fund investor and expects to acquire over $1 billion in assets over the next several years. CRA is currently acquiring multi-family assets on a nationwide basis. For more information on the company’s market focus and acquisition criteria, please visit www.continentalrealtyadvisors.com.
About MLG Capital
MLG Capital offers real estate investment services to accredited institutional or individual investors. Founded on the principle of minimizing client and partner wealth, MLG Capital looks to generate superior investor returns through the meticulous execution of real estate investment strategies. Our strong market knowledge has allowed us to build a presence in Wisconsin, Florida, Minnesota and Texas. Our portfolio consists of real estate investments in shopping centers, office buildings, multifamily complexes, retail and industrial properties as well as mixed-use land developments. Our demonstrated history of success has earned us a strong reputation and following of satisfied investors. For more information, please visit mlgcapital.com.