{"id":1004122007,"date":"2015-06-25T06:09:54","date_gmt":"2015-06-25T14:09:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004122007"},"modified":"2022-12-02T20:56:19","modified_gmt":"2022-12-03T04:56:19","slug":"l5-sets-sights-on-kansas-city","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/l5-sets-sights-on-kansas-city\/","title":{"rendered":"L5 Sets Sights on Kansas City"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004122009\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/l5-sets-sights-on-kansas-city\/whispering-lake-apartments\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg\" data-orig-size=\"1024,498\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 5s&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1409149144&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.12&quot;,&quot;iso&quot;:&quot;40&quot;,&quot;shutter_speed&quot;:&quot;0.00034094783498125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Whispering Lake Apartments\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg?w=1024\" class=\"alignright size-medium wp-image-1004122009\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg\" alt=\"Whispering Lake Apartments\" width=\"300\" height=\"146\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg?resize=300,146 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg?resize=768,374 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>L5 Investments has snapped up an asset in the thriving Kansas City, Mo., apartment market. The investment firm acquired Whispering Lake Apartments, a 334-unit property, from MMA Capital Management.<\/p>\n<p>Whispering Lake is a garden-style community that first opened its doors to residents in 1989, offering rental units in 17 structures. With the address of 10415 E. 43rd St., the property sits roughly 10 miles outside of the city\u2019s downtown area.<\/p>\n<p>Kansas City may not be a top-tier city, but its apartment market is as hot as those in some of the country\u2019s leading metropolises. Demand in Kansas City outpaced supply during the first quarter of the year, edging the occupancy level up to 94.8 percent and prompting apartment operators to push rents up nearly 1 percent, according to MPF Research. Their figures investors looking at Whispering Lake couldn\u2019t resist.<\/p>\n<p>Marcus &amp; Millichap marketed the apartment complex on MMA\u2019s behalf and saw no shortage of interest from the investment community. The commercial real estate investment services firm reeled in 138 registered bidders for the property and after receiving 18 initial offers, ended up with 11 best and final offers. The fact that four of those final proposals contained immediate nonrefundable deposits further attests to the high level of interest among the hopeful buyers. Ultimately, the transaction closed at a cap rate of 5.43 percent.<\/p>\n<p>L5 plans to invest $1.7 million in a renovation program at Whispering Lake.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>L5 Investments has snapped up an asset in the thriving apartment market of Missouri&#8217;s largest city.<\/p>\n","protected":false},"author":969,"featured_media":1004122009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742],"tags":[],"class_list":["post-1004122007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>L5 Sets Sights on Kansas City - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/l5-sets-sights-on-kansas-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L5 Sets Sights on Kansas City\" \/>\n<meta property=\"og:description\" content=\"L5 Investments has snapped up an asset in the thriving apartment market of Missouri&#039;s largest city.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/l5-sets-sights-on-kansas-city\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-25T14:09:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T04:56:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Whispering-Lake-Apartments.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"498\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"L5 Sets Sights on Kansas City\",\"datePublished\":\"2015-06-25T14:09:54+00:00\",\"dateModified\":\"2022-12-03T04:56:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/\"},\"wordCount\":240,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Whispering-Lake-Apartments.jpg\",\"articleSection\":[\"Investment\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/l5-sets-sights-on-kansas-city\\\/\",\"name\":\"L5 Sets Sights on Kansas City - 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