29th Street Capital (29SC), a vertically integrated multifamily investment firm, announced the acquisition of Lakewood Terrace, a 152-unit garden-style apartment community located in Belton, Mo., approximately 20 miles south of downtown Kansas City, Mo.
Built in 2002, the garden-style community offers one-, two- and three-bedroom floor plans averaging more than 1,025 square feet. The property serves residents in the growing Cass County, Mo., submarket and features a clubhouse, swimming pool, fitness center, detached garages and two playgrounds.
“Lakewood Terrace aligns with the fundamentals we prioritize from both an operational and market perspective.” said Matt Compton, vice president of acquisitions at 29th Street Capital. “It is a well-located suburban community with large floor plans, strong school district access and clear value-add upside.”
29th Street Capital plans to execute a comprehensive value-add business plan at the property. Approximately
