Silicon Valley-based Freshwater Investments has acquired Pine Meadow Townhomes in Shawnee, Kansas for $24.55M. This 102-unit community is a third property in Freshwater portfolio located in highly desirable Johnson County.
KANSAS CITY, Kansas, May 18, 2023 /PRNewswire-PRWeb/ — Freshwater Investments, a Silicon Valley based real estate investment firm, is pleased to expand its presence in Johnson County, Kansas with the acquisition of Pine Meadow Townhomes, a 102-unit community in Shawnee for $24.55M. Johnson County has been one of the Midwest’s premier locations due to the area’s high concentration of major employers, outstanding amenities, award-winning schools, and reasonable cost of living.
Built in 2004, Pine Meadow consists of large 2- and 3-bedroom townhomes with attached garages, walk-out patios, washer/dryer connections, and fully finished basements for most units. Pine Meadow boasts numerous amenities, including a swimming pool with sundeck, private pond, park-like setting with lush greenery and mature trees, making it an ideal choice for families and young professionals alike.
“Ever since we first visited Overland Park in 2020, we have been believers in this market,” said Alex Rozenfeld, Founder and Managing Partner at Freshwater Investments. “While operating in a more challenging market these days, we continue actively looking for new opportunities. After all, you don’t create value for investors by waiting out on the bench. Adding Pine Meadow to Freshwater portfolio is a win for our investors, and I commend our team and all parties involved for making it a smooth transaction.”
Freshwater plans to renovate the property, including common areas and individual units’ upgrades. The company also plans to implement several energy-efficient upgrades, including the installation of LED lighting and low-flow plumbing fixtures, to reduce the property’s operating costs and environmental impact.
Freshwater is not a novice in this market and has been successfully operating the Savoy Apartments in Overland Park, KS and Fairways at City Center in Lenexa, KS. With the acquisition of Pine Meadow, the firm’s portfolio now includes over 1,100 units in various US markets.
CBRE team has brokered this transaction. “It was a pleasure to work with Freshwater team on their acquisition of Pine Meadow Townhomes,” commented Max Helgeson, Senior Vice President, CBRE. “Operating in a highly volatile environment, the Freshwater team executed without hiccup and performed as advertised. I commend their honesty and integrity demonstrated throughout the process. We look forward to working on many more transactions with them in the future.”
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
Media Contact
Alyona Doubrovina, Freshwater Investments, 1 6508610656, alyona@freshwaterinvestments.com
SOURCE Freshwater Investments