Northmarq Brokers Contribution of KS Multifamily Portfolio to MLG Legacy Fund
Northmarq’s Kansas City Investment Sales team of Jeff Lamott, Casey Wilhm and David Belpedio completed the contribution of Camson Properties, a three-property apartment portfolio in the West Lawrence submarket in Kansas.
Northmarq represented the contributor, Orozco Capital Trust, which elected to contribute the portfolio to the MLG Capital Legacy Fund. Existing Fannie Mae financing was assumed by the MLG Legacy Fund, originated by John Duvall with Northmarq.
“With 83% of the unit mix in classic condition and a clear path to revenue growth through renovations, the Camson Portfolio offered an exceptional opportunity to capitalize on robust market fundamentals, including 8% annual rent growth and 98% occupancy in the submarket,” said Lamott.
The Camson Portfolio comprises three adjacent properties, offering a mix of one-bedroom villas, two-bedroom apartments, and three-bedroom townhomes. Built between 2007 and 2015, the portfolio had been maintained and managed by a local owner-operator who acquired the portfolio through Northmarq in 2019.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout