February 21, 2019
JLL Capital Markets Midwest has arranged the sale and financing of the Southlake Portfolio, consisting of 11 Class A and B office buildings near Kansas City, for $88 million. The portfolio encompasses 784,557 square feet of office space.
The firm’s Bruce Miller, Jim Postweiler, Peter Harwood and Derek Fohl led the sales and marketing efforts for the portfolio on behalf of the seller, funds managed by Oaktree Capital Management L.P., Hines and Waterford Property Company. JLL’s Keith Largay arranged acquisition financing from Morgan Stanley on behalf of the buyer, City+Ventures, a first-time buyer in the market.
“We’ve had our eye on the Kansas City Metro for a while, and felt like the Southlake portfolio was a great fit for us,” said Chris Erickson, City+Ventures’ co-founder. “It had the perfect balance of long-term stability and value add opportunity. We look forward to bringing some new energy to the property.”
For comments, questions or concerns, please contact Paul Bubny