1/28/2008

Hendricks & Partners sell three multi-families for $10.26M

by

Governor's Court

Hendricks & Partners has completed the sale of three apartment complexes totaling 204 units in Kansas City and Denver for a total of $10.26 million.

In Kansas City, Mo., KCI-Englewood I, LLC purchased the Englewood Apartments for $4.24 million from Carlsbad, Calif.-based Virtu Englewood Associates, LLC. Phillip S. Brimble of Hendricks & Partners' Kansas City office represented the seller in the transaction.

The Englewood Apartments are located at 5432 NW Waukomis Drive and contain 152 units. The property is a Section 8 low-income property.

In Denver, Newsed, a non-profit development corporation, purchased the Jody Apartments for $3 million from Raymond J. Runyan, the original developer of the property in the 1960s.

Frank Farrell and Erik Robinson of Denver office of Hendricks & Partners represented the seller in the transaction, which was financed with loans from the city and county of Denver and Enterprise Community Partners and with a grant from the Colorado Division of Housing. The 62-unit apartment complex is located at 5375 West 10th Ave.

In the Kansas City suburb of Olathe, Kan., KCI-Governor's Court I, LLC, KCI-Governor's Court II, LLC and KCI-Governor's Court III, LLC purchased the Governor's Court Apartments for $3.025 million from Shawnee Mission-based Governors Court, LLC. Brimble also represented the seller in this transaction.

Governor's Court is located at 1110 Virginia Lane and contains 80 units. Built in 1968, it was 98 percent occupied at the time of sale and underwent exterior renovations in 2000.

Address: Englewood Apartments at 5432 NW Waukomis Drive, Kansas City, Mo.
- Jody Apartments at 5375 West 10th Ave., Denver, Colo.
- Governor's Court at 1110 Virginia Lane, Olathe, Kan.

Size: 294 units

---

Filed Under: Multi-Family

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009