redIQ Deal Highlight: Avanti Residential Acquires Artistry Apartments

redIQ Deal Highlight: Avanti Residential Acquires Artistry Apartments

redIQ would like to congratulate the team at Avanti Residential for finalizing the acquisition of Artistry Apartments in Kansas City, Missouri for $94 million. The Class A asset is located in the Crossroads Art District and was sold by Milhaus Development.

Over the last few years, Kansas City has been a migration destination thanks to the area's sports teams, arts scene, rich history, affordability, and strong job market. The multifamily market in Kansas City is predicted to remain strong as prospective buyers delay single-family home purchases due to rising prices and interest rates. Remote workers and retirees have also fueled the strong demand for rentals as they look beyond amenities to find a sense of community.

Other recent transactions in the area include Wild Oak Apartments, The Element, and Walnut Tower.

About redIQ

For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisitions teams, brokers, and lenders focused on mid and large-size assets. redIQ's solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside.