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Thursday, June 18, 2015

Partnering Brings Big Benefits for CityPlace Multifamily Community

Partnering Brings Big Benefits for CityPlace Multifamily CommunityPooling resources and talent, the Overland Park, Kansas development of CityPlace is on a winning team to become a coveted mixed-use master plan.

Block Real Estate Services, LLC (BRES) has partnered with The Carlyle Group  on the development of The Residences at CityPlace, a 344-unit planned multifamily community within the CityPlace development. The CityPlace development is a ten-phase, mixed-use master plan development consisting of 95 acres at the southwest corner of College Boulevard and Highway 69. The project will include apartments, retail, office and senior housing.

While BRES provides development and Block Multifamily Group (BMG) provides management services for the project, The Carlyle Group will focus on developing The Residences at CityPlace. The partnership is a winning proposition for both companies as well as the city of Overland Park.
Ken Block, Managing Principal of BRES, said the exciting joint venture will allow for an accelerated pace of development within CityPlace which is reflective of the strong interest in the one-of-a-kind development. 

A Principal with The Carlyle Group, Adam Buchwald, is impressed with the Overland Park rental market remaining strong and says The Residences at CityPlace are a perfect fit with The Carlyle Group’s multifamily development strategy. He added that he was pleased to enter Kansas City and partner with a market leader like BRES to deliver a quality, high-performing residential community in a mixed-use setting.

Partnering Brings Big Benefits for CityPlace Multifamily Community
The Carlyle Group is a global alternative asset manager with $193 billion of assets under management across 130 funds and 156 fund of funds vehicles. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. The company employs more than 1,650 people in 40 offices across six continents.

The apartment homes at The Residences at CityPlace will consist of micro, one and two bedroom units equipped with Class A+ finishings such as quartz countertops, outdoor terraces and garage parking. Luxurious amenities within the community include a resort-style pool and hot tub, covered grill and outdoor TV area, fire pit and a media/theater room.

For CityPlace project updates, Click Here or watch the exciting Residences at CityPlace video here!

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