Cantor Fitzgerald Joint Venture Buys Kansas Multifamily Property
A joint venture between affiliates of Cantor Fitzgerald L.P., a sponsor of non-traded alternative investments, and BH Companies Inc. have purchased West End at City Center in Lenexa, Kansas.
A joint venture between affiliates of Cantor Fitzgerald L.P., a sponsor of non-traded alternative investments, and BH Companies Inc. have purchased West End at City Center, a 309-unit multifamily property located in Lenexa, a submarket of Kansas City, Kansas. The acquisition is the seventh multifamily acquisition by joint ventures between Cantor Fitzgerald and BH.
Built in 2009, and managed by BH, West End at City Center is comprised of one-, two-, and three-bedroom units with an average size of 970 square feet. Community amenities include a 24-hour fitness center, swimming pool, business center, and a picnic and grilling area. As of July 28, 2022, the property was 95.8 percent leased.
The property is located 20 miles southwest of Kansas City’s central business district and is within walking distance of Lenexa City Center, a 200-acre development with a mix of shopping, restaurants, entertainment venues, offices, living options, and hotels.
“We are excited to add Kansas City to our growing national portfolio with the purchase of West End at City Center,” said Matt Keefer, managing director at Cantor Fitzgerald. “The property’s spacious interiors, desirable amenities, and central location to nearby employment and entertainment options presented a great opportunity to acquire a well-performing multifamily asset in a strong submarket.”
As of June 30, 2022, Cantor Fitzgerald’s real estate investment management portfolio includes more than 8,000 multifamily units and 16 million square feet of office, industrial, and retail space across 147 properties. In 2021, Cantor Fitzgerald participated in approximately $140 billion of total real estate transactions.
