CBRE Arranges Sale of 348-Unit Wild Oak in Kansas City

CBRE has arranged the sale of Wild Oak, a 348-unit multifamily property in Kansas City. Florida-based Stoneweg US purchased the property from Missouri-based Maxus for an undisclosed amount.

CBRE’s Jeff Stingley and Max Helgeson represented the seller in the transaction.

Wild Oak is located at 7987 NE Flintlock Road, minutes southwest of the Interstate 35 and Route 152 intersection within the Liberty submarket of Kansas City’s Northland region. The property offers a mix of one-, two- and three-bedroom floorplans and features two swimming pools, a recently modernized clubhouse, a 24-hour fitness center, carports and detached garages and units outfitted with 9' ceilings, washer/dryer connections and a private balcony or patio.

“The Northland is one of Kansas City’s fastest growing areas which will continue to provide strong leasing demand for multifamily, including Wild Oak,” said Stingley. “Furthermore, the Kansas City metro’s diverse economic base and low rent-to-income ratio provides significant risk mitigation in volatile economic environments.”

“With population growth upwards of 7% in this area, and compressed supply for renters looking to penetrate this submarket, our team is looking forward to the transformation of Wild Oak Apartments,” said Ryan Smyth, Director of Acquisitions for Stoneweg US. “We're confident that our proposed business plan will elevate the curb appeal for prospective renters while enhancing the experience for existing residents and positioning the asset for favorable future results.”