November 2, 2020
Watermark Residential completed the sale of Watermark at Tiffany Springs, a 276-unit Class A multifamily community in Kansas City, MO for $60 million. The buyer was an entity controlled by A&C Ventures, Inc., a private investment firm based in Sonoma, CA.
“We were able to build Watermark at Tiffany Springs under budget, stabilize occupancy and sell this community for attractive returns in just 36 months,” said Josh Purvis, managing partner of Watermark Residential. “Even in the current environment, Watermark at Tiffany Springs was able to reach stabilization, further affirming Watermark’s ability to deliver sought-after communities based on style, convenience, location and luxury.”
Watermark at Tiffany Springs is located at 9641 N. Ambassador Dr. It’s one of two Watermark properties in the Kansas City area and one of four in the state of Missouri.
Mac Crowther and Whittaker Potts with Newmark represented Watermark on the sale.
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