Denver CRE Investment Company Acquires Attainable Housing Community in Kansas City
In a joint venture, Denver-based commercial real estate investment company Peakview Investments and Infinite Waters have acquired Walnut Tower, a notable 180-unit, value-add, high-rise multi-housing community located in the heart of downtown Kansas City, Missouri.
The purchase of Walnut Tower marks the company’s second value-add multifamily acquisition in the past 14 months. The cornerstone of their philosophy is to provide quality living accommodations and service to their valued tenants while exceeding their investors’ expectations in their commitment to their financial success.
Built in 1963 and fully renovated in 2012, Walnut Tower features studio, one- and two-bedroom floorplans. The property presents a rare opportunity for significant value-add potential in a booming downtown market. The joint venture of Peakview Investments and Infinite Waters has programmed a comprehensive business plan to further position Walnut Tower as the premier attainable housing community in downtown Kansas City. The business plan includes renovations to unit interiors, common area activation, along with a change of management.
“We are ecstatic to launch our joint venture with Walnut Tower,” said Josh Simon, principal of Infinite Waters. “The Asset and its position in the market really resonated with our acquisition criteria and investors. We are eager to start executing our business plan and enhancing our resident’s home experience.”
“In such a turbulent economic time, it is increasingly important to stay disciplined to our underwriting standards,” said Jonathan Polster, founder & principal of Peakview Investments. “Walnut Tower offers a terrific opportunity to achieve immediate scale in a submarket that we are forecasting substantial long-term growth at a favorable basis. We are thrilled about the acquisition of Walnut Tower and look forward to future acquisitions in the Kansas City market.”
Situated at 722 Walnut St., Walnut Tower is ideally located in the high-growth and revitalized Downtown Kansas City submarket. The Property is central to many of Kansas City’s largest employment centers, notable retailers, and a vast array of entertainment amenities.
Peakview Investments was founded in 2021 by Jonathan Polster. The purchase of Walnut Tower marks the Company’s second value-add multifamily acquisition in the past 14 months. Peakview Investments aims to provide high quality, exceptional service and superior value to their investors, partners, tenants, and community.