The Orion Property Group welcomes Coventry Park to its portfolio
A California based Real estate investment firm has made further in-roads into the Kansas City multi-family housing market with a 132 unit acquisition of Coventry Park Apartments located in Independence, Missouri.
In a statement, Zovest Capital said the transaction is part of a plan to build a stronger presence in the Kansas City MSA area. It’s the company’s third multi-family residential acquisition in that market.“Multi-family investments are an extremely resilient asset class and if for anything that hypothesis got strengthened through recent pandemic influenced market cycle,” Rama Krishna Kandula, founder and CEO of Zovest Capital, said.
The company already owns two other apartment buildings in the market. Walnut Ridge apartments which is a 42 unit apartment community located in Parkville, MO as well as Chapel Hill Apartments, a 56 unit apartment community in Kansas City, MO.
Orion Property Group is the property manager on site. “We are excited to work with Zovest Capital on this acquisition and look forward to building a strong partnership going forward,” Mike Napovanice, President of Orion said.