ARTISAN Acquires Georgetown Apartments in Kansas City Metro
ARTISAN Capital Group ("ACG") and its partner, a fund managed by DRA Advisors, are pleased to announce the successful acquisition of Georgetown Apartments in Merriam, KS, a premier location within Johnson County. This 395-unit apartment community, originally constructed by J.C. Nichols Cos., comprises a mix of townhomes and garden-style apartment homes, offering a variety of spacious layouts. Set on 33 acres of well-maintained landscaping, the community boasts an impressive range of amenities, including a sprawling clubhouse, indoor and outdoor pools, a fitness center, sports courts, garages/carports and in-unit laundry.
Georgetown Apartments enjoys a highly desirable location, surrounded by prominent employment centers, top-rated schools, and the overall convenience of being situated in the heart of Johnson County. With its proximity to Interstate 35, residents have effortless access to the entire Kansas City metro, nearby Downtown Overland Park and Country Club Plaza.
"We are extremely excited about the successful acquisition of Georgetown Apartments in partnership with a fund managed by DRA Advisors," expressed Sean Fogarty, Partner at ARTISAN Capital Group. "This significant value—add opportunity aligns with our strategic vision for the Kansas City metro area and compliments our overall market rate portfolio in the Midwest."
ACG's management vertical, ARTISAN Management Group ("AMG"), will oversee operations at Georgetown Apartments. The new ownership has planned a comprehensive renovation of the apartment units and amenities, set to commence this summer. Additionally, the acquisition involved obtaining agency financing through the Kansas City office of Berkadia.
About ARTISAN Capital Group:
ARTISAN Capital Group presently owns and manages market-rate multi-family and student housing communities across six states. ACG’s market-rate strategy is Midwest-focused, while our student housing acquisition plan is national. ACG has grown its portfolio to nearly 6,000 apartment units since the company was formed in 2017. ACG is headquartered in Chicago, IL