29th Street Capital (29SC) has acquired Chestnut Heights Townhomes, a 161-unit townhome community located in Olathe, Kansas.
The property will be managed by 29th Street Living, the company’s property management platform. 29SC partnered with Basis Investment Group’s BIG Equity Value-Add Fund II for LP equity for the acquisition of the property and a capital improvement program.
Located in Johnson County, Chestnut Heights offers two- and three-bedroom townhome residences averaging approximately 1,300 square feet. 29SC plans to continue investing in the property through a thoughtful capital improvement program, and the acquisition expands 29SC’s Kansas City metro portfolio.
“Chestnut Heights is an excellent addition to our Kansas City portfolio and aligns well with our strategy of acquiring high-quality assets in established suburban markets,” said Matt Compton, Vice President of Acquisitions at 29th Street Capital. “The property’s differentiated townhome product, spacious floor plans and exceptional Johnson County location made it a natural fit for our long-term investment strategy.”
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