CHICAGO, Ill., September 13, 2024 -- Archstone Capital, a fully vertically integrated multifamily investment firm, today announced the acquisition of Stonehaven Overland Park, a newly constructed, 68-unit residential community located in the thriving suburb of Overland Park, Kansas. Archstone Residential, the firm's in-house property management company and construction affiliate, has assumed management of the community.
The acquisition was completed through a new joint venture partnership with Chicago-based Pearlmark.
Situated at 15100 Lamar Ave, Overland Park, KS 66223, Stonehaven Overland Park offers a mix of two- and three-bedroom apartments with optional garage access. The newly constructed community, completed in 2024, is designed to meet the growing demand for upscale, suburban living in one of the most desirable neighborhoods in the Kansas City metropolitan area.
Stonehaven marks Archstone’s second acquisition in Overland Park, after acquiring The Louis Overland Park last December.
"We are excited to expand our footprint in Kansas City with the acquisition of Stonehaven Overland Park," said Christopher Salazar, CEO of Archstone Capital. "This property represents our ongoing strategy to invest in high-quality communities in submarkets with strong growth potential. It aligns with our vision of creating communities that enhance the quality of life for our residents”
The community features large floorplans and a quiet setting, located in the #1 rated school district in Kansas. Each unit offers spacious layouts and high-end finishes. With its prime location in Overland Park, residents will enjoy easy access to local shopping, dining, and entertainment, as well as proximity to major employment centers.
"Stonehaven Overland Park is a valuable addition to our portfolio, and we look forward to continuing our expansion in the Kansas City metro area," said Bradley Jenner, VP of Acquisitions at Archstone Capital. “We are eager to continue building relationships with the Overland Park community."
“We are excited to partner with Archstone Capital on Pearlmark’s first acquisition in the Kansas City MSA. We are fortunate to leverage Archstone’s market knowledge as we look to grow our presence in the market,” said Erin Sullivan, Vice President at Pearlmark.
About Archstone Capital
Archstone Capital is a vertically integrated multifamily investment firm specializing in value-add investments across the Midwest. With a proven strategy, Archstone identifies unique opportunities to generate higher-than-expected margins and risk-adjusted returns for investors. The company is capitalized with high net worth, family office, and institutional capital, focusing on well-located submarkets of large and growing U.S. metros. Archstone is committed to improving the quality of life for residents in its portfolio communities.
For more information about Archstone Capital, please visit archstonecap.com
About Pearlmark
Pearlmark is a Chicago-based investment firm that targets domestic core-plus to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, the Pearlmark team has sponsored more than 15 real estate equity and debt investment programs and completed 585 real estate equity and debt transactions on behalf of investors, representing $5.6 billion in equity capital commitments, $14.3 billion in gross investment value, and 159 originated loans aggregating over $2 billion in commitments. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (primarily industrial and multifamily).
For more information, please visit https://www.pearlmark.com.
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