Sentinel Real Estate Corporation Acquires 404-Unit Apartment Community in Kansas City, KS

NEW YORK–(BUSINESS WIRE)–Sentinel Real Estate Corporation (“Sentinel”) today announced the acquisition of Lexington Farms Apartments, a 404-unit garden-style community in the popular suburb of Overland Park, 29 kilometers southwest of downtown Kansas City.

Originally built in 1997, but recently renovated, Lexington Farms offers one-, two-, and three-bedroom apartments that average 972 square feet. Over the past two years, a major upgrade program has been carried out in the public areas of the property, including repainting the exteriors of the building, remodeling the clubhouse to reflect a contemporary aesthetic and adding a fitness centre. , a Wi-Fi lounge and a coffee bar. During the same period, two-thirds of the units have been updated to include modern finishes, fixtures and fittings, including quartz countertops, stainless steel appliances, tile backsplashes, cabinets shaker style, kitchen islands, wood style plank floors in common and wet areas. areas, carpeted bedrooms, ceramic tile bathrooms, side-by-side washers and dryers, soaking tubs, walk-in closets, private balconies or patios, and Wi-Fi thermostats. Sentinel intends to realize additional value on the property by renovating the remaining units.

“Lexington Farms presented an attractive opportunity to acquire a partially renovated, multi-family development located in a desirable area backed by strong fundamentals, including good schools and strong local employment centers,” said Michael Streicker, president of Sentinel. “We look forward to leveraging our considerable expertise to renovate the remainder of the property, realizing further growth potential.”

In addition to the renovated clubhouse, community amenities include a lounge, coffee bar and show kitchen, two heated saltwater pools, poolside fire pit, barbecue pavilion, table tennis -pong, hammock lounge, billiard court, bocce court, tennis court, 24-hour fitness center, dry sauna, billiards and dog park.

Lexington Farms is located within walking distance of retail and restaurant developments along the 135and Street corridor comprising Overland Pointe Marketplace, an 80,000 square foot shopping center with multiple national tenants. Additionally, Lexington Farms is served by the Blue Valley School District, which is less than 1.5 miles from the community. Major employers in the area include Cerner, T-Mobile, OptumRx, and Overland Park Regional Medical Center, which account for nearly 30,000 jobs. Lexington Park Apartments also benefits from being close to many of Kansas City’s major thoroughfares such as I-435, I-35, and US-69, which provide convenient access to the entire metropolitan area.

Sentinel has been active in the Kansas City market throughout its 53-year history, having owned and operated 17 multi-family properties in the area. In addition to Lexington Farms, Sentinel currently owns three nearby properties, Weston Point Apartments, Corbin Greens Apartments and The Fairways at Corbin Park Apartments, providing enhanced competitive positioning in the submarket. The company will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

About Sentinel Realty Corporation

Founded in 1969, Sentinel Real Estate Corporation is an independent real estate investment management company based in New York. The firm currently manages $9.3 billion in institutional-grade real estate assets on behalf of more than 100 domestic and international clients. Sentinel has offices in the United States, Amsterdam, Germany, Australia and Singapore. The company’s portfolio currently includes over 26,000 apartments and 5.3 million square feet of commercial real estate. Sentinel operates on a vertically integrated platform with 750 employees performing all phases of the investment process, including onsite property management. For more information about Sentinel, please visit www.sentinelcorp.com.

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