Kansas City, Missouri—Block Funds acquired a 72-unit Class A townhome community located in Ogden, KS. River Trail Townhomes are located at the eastern entrance to Fort Riley, United States Army. River Trail is a part of a larger development plan for commercial and residential development at the K-18/K-114 interchange. River Trail was constructed in 2007 and 2008.
Block Funds (the investment division of Block Real Estate Services) was attracted to the Trails because of the ability to purchase the property at an attractive price, create value through capital improvements and deliver strong risk-adjusted returns to investors.
Block Multifamily Group (BMG) will manage the River Trails. BMG provides multifamily management services in a wide geographic area. Our de-centralized management, coupled with a centralized financial center, enables our staff to provide proactive property management services in a timely manner. Effectively managing our clients' needs is the focal point of our operating philosophy. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.
Block Funds and Block Multifamily Group (BMG) will continue seeking properties to purchase.
For further information contact:
Aaron Mesmer Grant Reves
Investment Sales & Acquisitions Investment Sales & Acquisitions
Block Funds Block Funds