ARTISAN Sells Villa Medici Apartment Community in Overland Park, KS
ARTISAN Capital Group (“ACG”) is delighted to announce the sale of Villa Medici Apartments & Townhomes in Overland Park, KS. The 166-unit Mediterranean-style gated community, built in 1969 by J.C. Nichols Cos., features a unique parklike setting, an updated clubhouse, and spacious units.
ACG acquired the community in August 2020 through a joint venture partnership with a private equity fund investor.
ACG’s operational and physical enhancements to the property proved successful as occupancy remained high and lease trade outs significantly increased during ownership including double-digit increases in 2022. The diligent management of the asset as well as a focused marketing process produced an IRR north of 70%.
“We are very proud of our Villa Medici investment and know it took an entire team to have this superb outcome,” said Sean Fogarty, a Partner at ARTISAN Capital Group. “From our acquisition and partnership teams working in a challenging transactions market in 2020 to our management teams’ hands-on approach on operations through disposition, it was truly a team effort.”