CBRE Facilitates Sale of 341-Unit Luxury Multifamily Community in Downtown Kansas City, Mo.

CBRE arranged the sale of Artistry KC, a 341-unit multifamily community in downtown Kansas City’s Crossroads Arts District, to Denver-based Avanti Residential for an undisclosed amount.

CBRE’s Jeff Stingley and Max Helgeson represented the seller, a joint venture between Indianapolis-based Milhaus Development and Boston-based CrossHarbor Capital Partners. Brady O’Donnell, Jill Haug and Alexandra Scott of CBRE Capital Market’s Debt and Structured Finance team in Denver, in conjunction with Kyle Tucker in Kansas City, arranged acquisition financing for the buyer.

Located at 1918 Locust St., Artistry KC (soon to be named Arte KC) was built in 2021 and includes 238,714 rentable square feet with micro, studio, one- and two-bedroom floor plans spread across four buildings. The units feature open-concept floorplans, nine-foot ceilings, oversized windows, granite countertops, designer lighting and fixtures, stainless steel appliances, luxury vinyl tile flooring, and washers and dryers. Select units feature kitchen islands and private patios or balconies with views of the community pool, courtyard and city.

Community amenities include a resort-style pool and sundeck, pool-side entertainment lounge, indoor/outdoor resident lounge, fitness center, pet spa and dog park, outdoor kitchen with grills, courtyard with a fire pit, and five-story parking garage with 350 spaces and 36 surface spaces. The property also includes 11,675 square feet of commercial space.

Arte KC marks Avanti Residential’s seventh multifamily acquisition in Kansas City since 2021. 

“Avanti has added one of Kansas City’s premier urban luxury communities to its metro portfolio, and its investment in downtown is yet another strong endorsement for the submarket from national multifamily capital,” said Stingley.

Situated in the Crossroads Arts District, tenants have quick access to the metro’s art and design galleries, professional design studios, architectural firms and advertising agencies, as well as popular restaurants, boutique stores and music venues. The community is also blocks away from Union Station, the Kauffman Center for the Performing Arts, the Power & Light District and T-Mobile Arena.