Freshwater Investments and Griffis/Blessing Purchase The Fairways at City Center in Lenexa, KS

REDWOOD CITY, Calif., Dec. 3, 2021 /PRNewswire-PRWeb/ -- The Fairways at City Center is a Class-A, multifamily community in Lenexa, Kansas. Built in 2020, Fairways overlooks the Canyon Farms Golf Club on slightly more than 14 acres with 80luxury single-family, attached rental units, each with a generous 2,326 SF per unit. The two-story, three-bedroom homes offer a spacious master suite, a flex room for an office/den/bedroom, a large kitchen with a separate dining area, a centralized living room, a covered porch, and a covered veranda. Finished lower levels provide additional space for guests and entertaining with two bedrooms and a full bathroom, a family room, and expansive storage space.

Freshwater Investments and Griffis/Blessing are not novices in this market, as they have been successfully operating the Savoy Apartments in Overland Park, Kansas.

"We welcome the opportunity to expand our presence in greater Kansas City and strengthen our partnership with Griffis/Blessing. While new construction build-to-rent acquisition is a pivot from Freshwater's traditional value-add strategy, our investors embraced it with an overwhelming interest and we are excited to grow our expertise," said Alex Rozenfeld, Founder and Managing Partner at Freshwater Investments.

"Fairways is our second investment in the greater Kansas City metropolitan area, a target market in which we have full confidence and where we will begin to realize economies of scale for both properties," said Gary Winegar, President of Investment Services of Griffis/Blessing. "The community is ideally located in western Johnson County, which is one of the top investment-grade submarkets in the area and boasts the newly developed, "downtown", Lenexa City Center, a community-driven, vibrant neighborhood in the path of growth for the county."

"Build-for-rent is seeing explosive growth in the U.S. housing market, and investors are rapidly
expanding their investment strategies to include this asset type," said William J. Hybl, Jr., President and COO of Griffis/Blessing. "Demographics including families for whom buying a home is out of reach, millennials who are attracted to more expansive spaces, and baby boomers seeking to simplify are all opting to rent, especially single-family homes. These renters desire the advantages and space of a new home without the costs of home ownership, trading down payments, mortgages and home repairs for professionally operated and maintained single-family communities."

The Newmark team of Mac Crowther and Whittaker Potts brokered the transaction.

"We value the trust and faith you put in us to provide your financing…though with a team as great as you have it's an easy process overall. We wish all of our borrowers were as responsive and diligent as you are. We know that when a Griffis/Blessing and Freshwater deal comes in we will have everything we need…usually before we ask for it," commented Charles H. Williams, Executive Managing Director with Newmark, Multifamily Capital Markets.

Freshwater Investments, headquartered in Redwood City, California, is a private equity real estate investment firm creating opportunities for private and institutional investors to diversify portfolios and gain attractive returns through co-ownership of multifamily housing properties. For more information, visit http://www.freshwaterinvestments.com

Griffis/Blessing, Inc., is the only Accredited Management Organization, AMO, headquartered in Colorado Springs, CO. With additional offices in Denver, Griffis/Blessing currently manages over seven million square feet of commercial space and more than 9,450 apartment units. The company has provided award-winning property management and real estate investment services since 1985. For more information, visit http://www.griffisblessing.com.

Media Contact

Alyona Doubrovina, Freshwater Investments, +1 6504745181, [email protected]

SOURCE Freshwater Investments