KANSAS CITY, MO – Cohen-Esrey Development Group, an Overland Park-based housing development firm, announced the kick-off of the conversion of a seven-tale office building in Kansas City, MO into a luxury apartment project.

When complete in early Summer 2020, Midtown Plaza Phase 1 will add 107 luxury 1 and 2-bedroom apartments to the rapidly growing Midtown area. The project owner is Kartel Capital of Beverly Hills, CA. Cohen-Esrey is the project developer and an affiliated company, Construction Technologies, is the general contractor. Construction financing is being provided by Arvest Bank and was arranged by John Perlik and Don Coleman of CBRE|Capstone, Kansas City. Construction is slated to start next week.

Midtown Plaza, Phase 1, is located at 3420 Broadway Blvd. in Kansas City, MO and represents the first phase of a multi-phased project that will eventually include Phase 2 consisting of commercial retail, office space and a rooftop restaurant, Phase 3 additional luxury apartments, and Phase 4 townhomes. Phase 1 will include 107 apartment units consisting of contemporary 1 and 2-bedroom floor plans, an on-site fitness facility, ample parking for all units and an outdoor activity space.

The project is within a few minutes and walking distance to a variety of amenities, such as Metropolitan Community College, retail stores, restaurants, supermarket, hospital/medical facilities, public transits, and local parks. The project’s proximity to Downtown Kansas City, The Country Club Plaza, and Westport will allow residents to easily access all attractions in neighboring cities.

“This project has been a vision of mine over the years,” said Joseph Kashani, CEO of Kartel Capital, “and now it’s finally coming to fruition. We’re excited to start the first phase and are equally excited about the long-term future of all four phases of this project.”

Tom Anderson, Managing Director of Cohen-Esrey Development Group, also expressed enthusiasm about the project: “The Midtown area is the next logical Kansas City neighborhood for multi-family development and this project fills a really vital niche in the market. We’re honored to have been selected by Mr. Kashani to help him develop Midtown Plaza.”

Kashani bought the property in 2008. Plans started to be laid for an apartment conversion in 2016. Kashani and Anderson met soon after. After several iterations, the current plot finally came into clarity and the closing on the construction loan occurred this week, enabling the project to proceed.

“I truly believe that local residents will connect with this project as it will serve the community with quality residential apartments and cutting-edge retail in subsequent phases,” said Kashani. “It’s been a long road but, in about a year, we’ll have our first residents moving in.”

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SAN ANTONIO, TX – Ascend Partners announced that it has bought Lakeside Helped Living, a San Antonio senior living community, and is reopening it as The Grandview of Westover Hills, Ascend’s newest boutique senior living experience.

The Grandview of Westover Hills offers 42 helped living and 18 memory care apartments with premium accommodations, resort-style amenities, and world-class care.

Ascend Managing Partner Anand Patel said, “We are excited to reinvest in this community and bring to the people of San Antonio the same level of senior care and hospitality we deliver to all of our residents.”

The Grandview of Westover Hills provides the finest in senior living care to West San Antonio, featuring an active environment and ease of living conveniences. Amenities and services include: Private residences; Resort-quality amenities; Concierge-style services; Chef-prepared meals; 24/7 professional care; Library/business center; Family room; Activity room; Theatre; Full-service salon and Fitness center.

Texas-based Trilogy Senior Living will provide the management and operations for The Grandview of Westover Hills. “Trilogy’s one purpose is to provide the best life possible to senior residents,” Patel said. “The company brings a unique hands-on focus in providing care, one that perfectly aligns with the lifestyle we want to build at The Grandview.”

“Trilogy Senior Living is thrilled to be working with Ascend Partners to manage The Grandview of Westover Hills,” said Shawn Corzine, CEO of Trilogy Senior Living. “We had the opportunity to meet with the residents, their family members, and the associates a few weeks ago to introduce ourselves and talk about the transition. Everyone was very excited about the transition and welcomed us with open arms.”

Corzine also added: “Trilogy is excited to have the opportunity to make a difference in the lives of everyone involved at The Grandview of Westover Hills and we are looking forward to partnering in many more communities with Ascend Partners in the future.”

Ascend Partners is investing heavily in the newly rebranded Grandview of Westover Hills to “bring the property back to life,” Patel says.

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TAMPA, FL – Providence Real Estate, a multifamily owner-operator, announced the completion of the acquisition of the Park at Via Rosa Apartments located in the Brandon area of Tampa, Florida. The Property was bought in a joint venture with Aegon Real Assets US, a division of Aegon N.V., a multinational life insurance, pensions and asset management company headquartered in the Netherlands.

The property was built in 2000 on approximately 24-acres and offers residents large floorplans with private entrances and 9-foot ceilings. The property offers its residents brilliant access to the I-75 office corridor (22 million square feet of office space) and healthcare centers such as the Brandon Regional Hospital and the new TGH Brandon Healthplex. The property is anticipated to undergo extensive exterior and interior renovations and will be renamed 2211 Grand Isle.

“The acquisition of Park at Via Rosa presents a tremendous opportunity for us to reposition a nineteen-year-ancient property that will benefit from a significant renovation to enable it to provide high-quality rental housing for Tampa’s workforce. Furthermore, Park of Via Rosa represents the seventh property in Providence’s Tampa portfolio, and we continue to benefit from the broad strength of the overall Tampa multifamily market.” said Alan Pollack, Providence’s Chairman.

“This transaction leverages our experience and depth of relationships in the multifamily sector and illustrates our strategic goals to buy and improve workforce housing in select metro areas,” said Cameron Jones, Head of Real Estate Equity Acquisitions for Aegon RA.

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