MILWAUKEE, WI - Midloch Investment Partners and Artisan Capital Group have sold Villa Medici Apartments and Townhomes for $43.6 million. Midloch and ACG acquired the property in August 2020 after initially contracting to buy it in February 2020 as Covid was taking hold. The purchase price was $25 million.
“Villa Medici is a special property that we were able to identify and acquire in uncertain times. The investment not only proved successful but outperformed our expectations,” said Andy Sinclair, CEO and Principal of Midloch Investment Partners. “We look forward to acquiring other assets with value-add potential in the Kansas City market and in other areas throughout the Midwest.”
Villa Medici, a 166-unit Class A multifamily rental community, is located at 9550 Ash Street in Overland Park, one of the Midwest’s premier submarkets with an affluent and highly educated demographic base, dense corporate presence, top-rated schools and community amenities. The property, which has lush landscaping and charming waterways, is a short walk from the acclaimed 136-acre Meadowbrook Park near the intersection of 95th Street and Nall Avenue.
Villa Medici was developed by J.C. Nichols Company, the developer of Kansas City’s famed Country Club Plaza.
Jeff Stingley and Max Helgeson of CBRE represented Midloch and ACG in the sale transaction.
About Midloch Investment Partners: Midloch Investment Partners, with offices in Chicago, Milwaukee and Minneapolis, is a commercial real estate investment firm. Midloch focuses on small to middle market joint-venture equity investments. Typically, the firm invests between $1 million and $15 million in properties valued between $5 million and $50 million. Midloch invests in multifamily, industrial, retail and office properties, partnering with local developers and operators using a value-add strategy. Midloch seeks individual investors, family offices, joint-venture partners and RIAs to invest alongside the company in Midloch funds or other co-investment vehicles. Investors interested in learning more should visit www.Midloch.com