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Private Equity Firm Buys Country Club Plaza Apartments for $33.6M

PPR Capital Management announced its second acquisition in the Kansas City area with the purchase of a 224-Unit multifamily complex. Photo credit: Google Maps.

Posed February 4, 2025

The Pennsylvania-based private equity firm PPR Capital Management has purchased an apartment complex near the Country Club Plaza, marking its second investment in the KC area.

PPR has purchased Infinity at Plaza West, located at 4440 Roanoke Pkwy, a 224-unit garden-style multifamily building, according to a release Tuesday. PPR is working with Wichita-based Petra and Overland Park-based Aspen Funds as co-general partners on this deal. The building was constructed in 1949 and underwent renovations in 2019.

The $33.6 million acquisition of Infinity at Plaza West includes a total equity investment of $11.4 million and a 3.90% loan assumption, with PPR as the primary equity partner contributing $10.2 million.

“This acquisition further demonstrates PPR’s ability to identify and secure properties with strong value-add potential in growing locations,” CEO of PPR Capital Management, Steve Meyer said in the release. “By acquiring this asset below market basis with attractive financing terms, we are well-positioned to implement our capital improvement strategy and create additional value for our investors.”

With the conclusion of this acquisition, PPR now has two properties in the Kansas City area. In December 2023, the firm acquired a 200-unit townhome community called Madison Overland Park.

“Following our recent success in the Kansas City market, we are excited to expand our presence with Infinity at Plaza West,” Director of Multifamily Investments at PPR Capital Management, Chris Cordes, said in the release. “The property’s historically strong occupancy and prime location, combined with our planned improvements, align perfectly with our deliberate investment strategy of acquiring well-located assets with significant upside potential.”