(Read more on the multifamily market.)
KANSAS CITY, MO-Philadelphia-based BPG Properties Ltd. haspurchased three apartment complexes here and in Lenexa as part ofits $850-million BPG Investment Partnership VIII & VIIIA LPfund. The three properties of 483 units were purchased for $22.4million, and will be managed by BPG's multifamily subsidiary,Madison Apartment Group LP.
Woodridge and Oaks at Mill Creek are on 87th Street nearInterstate 35 in Lenexa. Woodlands of Kansas City is in KansasCity, MO. Amenities at the complexes include a mixture of one- andtwo-bedroom units, swimming pools, fitness centers, and tennis andvolleyball courts. The 21-year-old Woodridge rents for $520 to $690per month, people at the 36-year-old Oaks rent for $565 to $715 permonth and the 20-year-old Woodlands rents for $635 to $805 permonth.
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