FOR IMMEDIATE RELEASE
Archstone Capital Announces Acquisition of The Louis Overland Park
OVERLAND PARK, KS, Dec. 21, 2023 -- Archstone Capital, a vertically integrated multifamily investment firm, today announced the acquisition of The Louis Overland Park, a townhome community located in Overland Park, a thriving submarket of Kansas City. Archstone Construction, Archstone's general contractor, will oversee the community's upcoming improvements. The acquisition marks Archstone's entry into the Kansas City market.
The Louis Overland Park (formerly Madison Overland Park), marks Archstone's 13th acquisition in the Midwest. The community was acquired with equity from Archstone and affiliates in a partnership with Aspen Funds and 7Acre Investments.
The Louis Overland Park, formerly known as Madison Overland Park, features 200 townhomes on 17.5 acres, resulting in a low density of 11.4 units per acre. Notably, 100% of the units are townhome-style, with 98% featuring attached garages and direct unit entry. This distinctive offering sets The Louis Overland Park apart from competitors in the submarket.
Archstone Capital plans to implement a comprehensive revitalization program for the
community. The program includes upgrades to amenity spaces, modernization of common areas, and improvements to enhance curb appeal. Residents can anticipate state-of-the-art appliances, modern flooring, upgraded lighting fixtures, and hard surface countertops.
Situated in the Johnson County multifamily submarket of the Kansas City MSA, The Louis Overland Park is strategically located just off Metcalf Avenue, less than one mile from Interstate 69. This provides direct access to major job centers within Overland Park and throughout the MSA. The property is adjacent to the Blue Valley Recreational Center and is in close proximity to various retail centers with both national and local restaurants and retailers including Lifetime Fitness, Sprouts Farmers Market, Ulta Beauty, REI, First Watch, Chipotle, Noodles & Company, and many others. The Louis Overland Park is located in the number one school district in Kansas.
"We are thrilled to announce the acquisition of The Louis Overland Park, a remarkable addition to our diverse portfolio," said Chris Salazar, CEO of Archstone Capital. "This strategic move aligns with our vision for providing residents with exceptional living spaces and underscores our commitment to expanding our presence in dynamic markets. We look forward to joining the submarket and bringing our expertise and innovative approach to enhance the community's appeal."
As Archstone Capital continues to expand its footprint, The Louis Overland Park serves as a testament to the company's vision, expertise, and commitment to excellence in real estate investment and property management.
For more information about Archstone Capital and its portfolio, please visit archstonecap.com.
About Archstone Capital
Archstone Capital is a vertically integrated multifamily investment firm specializing in value-add investments across the Midwest. With a proven strategy, Archstone identifies unique opportunities to generate higher-than-expected margins and risk-adjusted returns for investors. The company is capitalized with high net worth, family office, and institutional capital, focusing on well-located submarkets of large and growing U.S. metros. Archstone is committed to improving the quality of life for residents in its portfolio communities.