KANSAS CITY, MO - PPR Capital Management (PPR), a private equity real estate investment firm, announced the acquisition of Infinity at Plaza West, a 224-unit garden-style multifamily community located in Kansas City, MO. Through strategic financing that includes a favorable 3.90% loan assumption, PPR has structured the $33.6 million acquisition to maximize value-add opportunities while maintaining efficient capital deployment.
The property is intentionally located in close proximity to the Country Club Plaza, Kansas City's premier retail and lifestyle destination. This acquisition is PPR's second investment in the Kansas City metropolitan area, following their December 2023 acquisition of a 200-unit townhome community in Overland Park, KS.
"This acquisition further demonstrates PPR's ability to identify and secure properties with strong value-add potential in growing locations," said Steve Meyer, CEO of PPR Capital Management. "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."
The investment structure includes a total equity investment of $11.4 million, with PPR contributing $10.2 million as the primary equity partner. PPR worked alongside Aspen Funds as the General Partner and Petra as Co-GP and on-site property manager.
Chris Cordes, Director, Multifamily Investments at PPR Capital Management, added, "Following our recent success in the Kansas City market, we are excited to expand our presence with Infinity at Plaza West. 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."
Source: PPR Capital Management