NORTH KANSAS CITY, MO – Maxus Realty Trust, Inc. (“MRTI”), a real estate investment trust ("REIT") with corporate headquarters located in North Kansas City, MO, has recently completed the acquisition of an apartment community located in Lenexa, Kansas.
MRTI completed the acquisition of the Pinnacle Pointe apartment community on August 1, 2018. Pinnacle Point was constructed in 1999 and includes 160 apartment units comprising approximately 150,000 square feet. With the addition of Pinnacle Pointe, MRTI now controls approximately 2,300 apartment units in the Kansas City metropolitan area.
“We are excited to add Pinnacle Pointe to our Kansas City portfolio. This property provides us with a unique opportunity to implement a comprehensive value add program that will allow the us vastly improve the resident experience,” said David Johnson, MRTI’s Chairman and CEO.
MRTI is a real estate investment trust that is in the business of acquiring, investing, developing and redeveloping multifamily and commercial properties in Alabama, Arkansas, Florida, Georgia, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma and Texas. MRTI has ownership interests in 35 multifamily properties consisting of 9,424 apartment homes) and has approximately 263,000 square feet of commercial 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”).
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