OVERLAND PARK, KS - Resource Real Estate announced the sale of Regents Center, a multifamily community located in Overland Park, Kansas. The Property was acquired by an investment program sponsored and managed by RRE in 2006.
The Property sale generated a profit of $6.8 million and an average annual return of 8.3 percent.
Kevin Finkel, Executive Vice President of RRE, said, “RRE operated Regents Center for almost ten years, spanning one of the roughest stretches for real estate investing: the Great Recession. We have successfully navigated those challenges and executed another asset sale that will benefit the investors in this sponsored program. Our comprehensive understanding of real estate markets and prudent management style are reflected in this successful transaction, which we feel is indicative of future wins for our investors.”
Regents Center offers one, two, and three bedroom apartment homes ranging in size from 704 to 1308 square feet. Amenities include: fitness center, business center, high speed internet, carport option, and more. This community is pet friendly, welcoming both cats and dogs, and is located with easy access to freeways, fine dining, shopping centers, local schools and entertainment venues.
Resource Real Estate is a firm that specializes in direct real estate investments, commercial real estate lending and global real estate securities. For over two decades, RRE and its affiliates have managed real estate assets for institutional and individual investors. RRE and its parent company have offices in New York, Los Angeles, Denver, London, Singapore, as well as its headquarters in Philadelphia and additional locations across the US.
Source: Resource Real Estate / #Apartments #Multifamily