Georgetown apartments

7200 Eby Drive | ​ Merriam | ​ KS 66204
395 Units | Built in 1965

Georgetown Apartments is a proven value-add opportunity featuring nearly every fundamental driver for future rent growth. The massive job drivers, top-rated schools, centralized location, low-density site, substantial clubhouse and diverse unit mix give this J.C. Nichols Co. developed property a perpetual competitive advantage over the competition.

  • Johnson County is among the hottest job markets in the country with development underway on the transformational 2000-acre, $1.8 billion Brookridge mixed-use project forecast to generate up to 24,000 jobs. The Aspiria office project under development is forecast to generate thousands of news jobs.
  • 94% mission-driven property, with 69% of units affordable to residents earning less than 60% AMI and 94% of residents earning less than 80% AMI, attracts residents from largest pool of potential renters.
  • The adjacent 500-bed Advent Health Shawnee Mission Hospital supports nearly 3,300 employees, including more than 700 physicians, making it the largest full-service medical staff in Kansas City.
  • Shawnee Mission School District, the 3rd largest school district in Kansas with over 27,000 students, is also among the best, ranked as the 8th best school district (of 281) in the state.
  • Unit mix to satisfy all housing needs, from studio units with large balconies to 4-bedroom townhomes with 2-car garages, all on a beautiful 33-acre site with mature landscaping. ​ First-time home buyers remain frustrated with rapidly increasing prices, elevating demand for the larger homes with single-family characteristics at Georgetown.
  • A luxurious and expansive clubhouse can be enhanced to provide even greater appeal. The compelling amenities perfectly integrate with the large site to provide an arrival sequence that separates Georgetown from its competition.

VALUE-ADD OPPORTUNITY: UNIT UPGRADES

Georgetown offers investors the opportunity to accelerate revenue growth beyond strong projected market rent growth through interior apartment upgrades to the vast majority of the Property’s apartments. Approximately 35% of the Property’s apartments have been renovated since 2012 by current ownership achieving strong 30% average return on cost. ​

PROPERTY OVERVIEW

POISED FOR ACCELERATED RENT GROWTH

LIFESTYLE AMENITIES AND APARTMENT FEATURES

CENTRALIZED LOCATION BETWEEN KANSAS CITY’S MAJOR JOB MARKETS

CONTACT US

Office

Berkadia Kansas City Investment Sales & Financing

4800 Main Street

Suite 501

Kansas City, MO 64112

Berkadia Chicago Investment Sales & Financing

125 S. Wacker Drive

Suite 400

Chicago, IL 60606

INVESTMENT ADVISORS

MORTGAGE BANKERS

PETER W. EVANS

Senior Managing Director

312.407.611
pete.evans@berkadia.com

Michael Spero

Senior Director
816.656.3705
michael.spero@berkadia.com

Kevin Jury

Director

816.531.6964

kevin.jury@berkadia.com

RICHARD G. EVANS

Senior Director
414.662.2472
richard.evans@berkadia.com

JOHN SCHORGL

Managing Director
816.759.0367
john.schorgl@berkadia.com

KEITH MILLIKAN

Director
312.845.8590
keith.millikan@berkadia.com

Georgetown apartments

7200 Eby Drive | Merriam | KS66204

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. ​

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