KANSAS CITY, MO – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the completed sale of Watermark at Tiffany Springs, a 276-unit Class A multifamily community in the Kansas City suburb of Northland for $60 million. The buyer was an entity controlled by A&C Ventures, Inc. (ACV), a private investment firm based in Sonoma, Calif.
“We were able to build Watermark at Tiffany Springs under budget, stabilize occupancy and sell this community for attractive returns in just 36 months,” said Josh Purvis, managing partner of Watermark Residential. “Even in the current environment, Watermark at Tiffany Springs was able to reach stabilization, further affirming Watermark’s ability to deliver sought-after communities based on style, convenience, location and luxury.”
Watermark at Tiffany Springs is located at 9641 North Ambassador Drive and features one-, two- and three-bedroom homes which include oversized windows, plank-style flooring, in-home washer and dryers, granite countertops, stainless steel kitchen appliances and private patios or balconies. Community amenities include a resort style pool with in-water loungers, a fully equipped clubhouse, outdoor firepit area, gas grilling stations, dog park and a 24-hour fitness center.
The property is strategically located near the major roadways of I-29 and Highway 152, allowing simple access to a variety of dining, entertainment and shopping options, including Tiffany Springs Market Center and Zona Rosa Town Center. Major employers, such as Cerner, a leader in health information technologies, and the University of Missouri-Kansas Cityare just a small drive away.
Watermark at Tiffany Springs is one of two Watermark properties in the Kansas City area and one of four in the state of Missouri. Since 2010, Watermark Residential has closed on more than 50 projects totaling in excess of 14,000 multifamily apartment homes. The company has consistently focused on developments in areas experiencing rapid job growth, increased rental demand and barriers to new supply.
Mac Crowther and Whittaker Potts with Newmark represented Watermark on the sale.

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COLUMBUS, OH – Herman & Kittle Properties announced that Whispering Creek, a new construction apartment community in Columbus, is now open and available to take applications. This $5 million development is located at 2960 Gooden Way off of Hague Road on the west side of the city and features 188 apartments in Columbus.
Whispering Creek offers one-, two-, three-, and four-bedroom affordable Columbus apartments currently available for rent. One-bedroom apartments are 803 square feet, two-bedroom apartments are 950 square feet, three-bedroom apartments are 1,050 square feet, and four-bedroom apartments are 1,200 square feet.
“We excited to offer new affordable apartments in Columbus that are now available for local residents,” said a Herman & Kittle representative. “The apartment homes are conveniently located to shopping and restaurants and just minutes from downtown Columbus.”
Herman & Kittle Properties, Inc. started construction in February 2018 and completed is a multi-family apartment complex that offers affordable rate pricing for residents. Construction started on the property in 2019 and currently has all apartments listed as go-in ready. There are 52 one-bedroom homes, 84 two-bedroom homes, 36 three-bedroom homes, and 16 four-bedroom homes. For more information on leasing or to schedule a tour you can visit the Whispering Creek website or call (833) 493-2585
Each apartment home comes with a wealth of interior amenities and our pet-friendly community has a number of community amenities. All of our apartments in Columbus come with carpet, central air, a dishwasher, refrigerator, patio, and washer and dryer hookups. Within the community you can delight in our barbecue grills, business center, dog park, fitness center, laundry facility, play area, and more. There are a number of floor plot options for residents to browse.
This property is located just north of the Hague Road intersection with Interstate 70 just east of Interstate 270. This means that our Columbus apartments are just minutes from downtown Columbus. There are several shopping options just to the west of the property on Hilliard Rome Road.

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COLLEGE PARK, GA – A partnership between Auerbach Funds and Dunross Capital has recently bought “The Life at Avery Park”, a 290,000 square foot, 220-unit townhouse complex in in College Park, GA.
Located at 2609 Charlestown Drive, The Life at Avery Park consists solely of townhome style units that will undergo a renovation to “platinum” level quality units. The partnership also plans to improve the existing amenities including the clubhouse, outdoor walking track, new windows and doors, improved landscaping, and enhancements to the common areas.
The multifamily townhouse style property is located just minutes from downtown Atlanta, with nearby access to I-285, I-85, and the Metrorail. The College Park area is Atlanta’s fasting growing submarket, conveniently located just minutes from the Hartsfield Jackson Airport, which employs approximately 63,000 people, making the area one of the largest employment districts in Georgia.
Peter Auerbach, Founder and Managing Partner of Auerbach Funds, stated, “We have a lot of conviction investing in the rapidly growing submarket of College Park which is bolstered by an established city like Atlanta. This acquisition will strengthen our portfolio of value-add assets and expand our footprint in the Atlanta market, a leading area for job growth and a rapidly growing hub for technology. We look forward to our partnership with Michael Crow and his team at Dunross Capital to deliver an improved product and experience for our tenants, while also providing strong returns for our investment partners”.
Commenting on the acquisition, Michael Crow, CEO of Dunross Capital, said “We are excited about this property of 220 gorgeous townhomes next to the billion-dollar expansion near the Airport. We were able to work with the seller and broker during COVID and still get the deal done. Our equity partner Auerbach Funds, and Peter and his team were fantastic to work with. We look forward to more acquisitions together.”
This marks the first acquisition since Auerbach Funds announced its first close for Auerbach Opportunity Fund III in mid-October. The fund has a target size of $100 million and is currently open to new investors.

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