2121 Central St., 1601 Walnut St. & 1004 Baltimore Ave.
Kansas City, Missouri
KC Loft Apartments is a portfolio of three existing, value-add historic apartment buildings totaling 335 units to be renovated in Kansas City, Missouri. Two buildings are located in Central Kansas City in the Crossroads District and one in the Library District with all three in close proximity of Kansas City Streetcar line stops, providing train service to the greater Kansas City area, as well as ease of access to major roadways including I-670 and I-35. The buildings were constructed between 1899 and 1923 and converted to loft style apartments in the early 2000s. Common area renovations will include upgraded fitness centers, lobbies, foyers, and the addition of package lockers. Individual unit updates will include upgraded kitchens, appliances, cabinets, flooring and lighting. Westminster Realty Partners III LP acquired a joint-venture interest in this portfolio alongside Artisan Capital Group, a Chicago-based apartment owner-operator.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $860 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk-reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them through new construction. The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.