NORTH KANSAS CITY, MO - Maxus Realty Trust, Inc. (“MRTI”), a real estate investment trust with corporate headquarters located in North Kansas City, MO, has recently completed the acquisition of two apartment communities.
MRTI completed the acquisition of Lexington on the Green apartment community on July 7, 2016. Lexington on the Green is located in Lithonia, Georgia, which is a suburb of Atlanta. The acquisition price was approximately $19.9 million. Lexington on the Green was constructed in 2002 and includes 216 apartment units comprising approximately 236,000 square feet.
On August 24, 2016, MRTI completed the acquisition of the Viera at Mandarin apartment community located in Jacksonville, Florida, for $17.6 million. Viera at Mandarin was constructed in 1984 and includes 188 apartment units comprising approximately 166,000 square feet.
MRTI is a REIT that is in the business of acquiring, investing, developing and redeveloping multifamily and commercial properties in Missouri, Arkansas, Oklahoma, Texas, Florida, Kansas, Mississippi, Louisiana and Georgia. MRTI has ownership interests in 28 multifamily properties (7,314 apartment homes) and has approximately 92,000 square feet of retail space.
MRTI’s common stock is quoted on the OTC Pink market tier of the OTC market, which operates an interdealer quotation system and electronic messaging service, called OTC Link®, for broker-dealers to trade OTC equity securities. Additional information about MRTI may be found at www.otcmarkets.com (symbol “MRTI”).
Media contact: Kelly Johnson, 816-805-5659, kjohnson@maxusprop.com
Investors contact: DeAnn Totta, 816-877-0812, dtotta@maxusprop.com