Multifamily real estate development and construction firm Cityscape Residential announces that is has closed nearly 82 million in joint venture financing within the last 90 days in a round led by two commercial banks and a long-term institutional equity partner
Our team is dedicated to developing Class-A multifamily communities through strategic alliances with long-term institutional partners
Continuing to expand its footprint across the Midwest the three recent projects help to expand the Cityscape footprint in the Kansas City metro area and also represent the first transaction in the Louisville metro
In Kansas Cityscape has begun work on its 130-unit West End Flats at Prairiefire project in Overland Park It is the second phase of construction at the Prairiefire master planned community following The Residences at Prairiefire a 300-unit complex that opened in February and is already nearing stabilization In nearby Olathe Kan , Cityscape is beginning construction on a 228-unit property known as Greenwood Reserve located on College Boulevard a preeminent employment corridor within suburban Kansas City Cityscape’s first apartment community in Louisville Ky is Apex on Preston comprised of 312 units Apex on Preston recently broke ground in July and is the first of its kind in the area to offer high-end living with top-of-the-line interior finishes and communal amenities
Our team is dedicated to developing Class-A multifamily communities through strategic alliances with long-term institutional partners said Brian Cranor partner of Cityscape Residential Such alliances allow Cityscape to standardize deal structures and close quickly once a targeted project has been agreed upon and this round of financing is an excellent example of the benefit of such alliances ‘
In addition to these three specific projects Cityscape has nearly 1,800 units under development throughout Indiana Kentucky Missouri and Kansas Cityscape has plans for a second multi-million dollar apartment community in Louisville Ky called Axis Apartments which will offer 300 units Located in the urban neighborhood near NuLu and with close proximity to Bardstown Road Frankfort Avenue and Highlands Clifton Axis Apartments is a nine-acre property site that will offer first of its kind amenities in urban Louisville and is expected to break ground by early 2015 To date Axis Apartments ranks as the largest investment in an urban Louisville Ky multifamily complex by an out-of-town developer Furthermore Cityscape is also developing 688 units at two locations in downtown Kansas City Mo Crossroads West will be a 300-unit community in the Crossroads and Westside neighborhoods on the southern edge of downtown Kansas City Cityscape is also developing adjacent downtown properties in the historic Quality Hill neighborhood on the west side of downtown The Summit a 258-unit complex and Apex with 130 units
Headquartered in Indianapolis Cityscape designs and develops award-winning luxury multifamily rental communities throughout the Midwest By incorporating design elements that echo each neighborhood’s distinct architectural style the firm brings a unique and mindful design aesthetic to each of its communities With its signature blend of high-end finishes and unparalleled design Cityscape develops luxury apartments that are attractive to institutional investors and renters alike
About Cityscape Residential
Established in , Cityscape Residential is a full service real estate development and construction firm headquartered in Indianapolis Known for its award-winning portfolio of luxury multifamily rental communities in the Indianapolis and Kansas City Mo areas its principals have been responsible for the successful development and/or financing of several billion dollars worth of institutional-quality apartments throughout the eastern half of the United States For more information visit http://cityscaperesidential com/ or follow the company’s updates on Facebook Twitter Google+ and LinkedIn
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