AMP Capital acquires Kansas City residential community
Staff ReporterDecember 7, 2020
AMP Capital Global Direct Property Fund has purchased 308 units in 13 separate apartment buildings in the Kansas City, United States for US$27.7 million.
The Vintage at Zona Rosa, Kansas City is 85% occupied.
AMP Capital Fund Manager Tim Fallet said the investment presented "compelling opportunities" to improve the asset.
"This acquisition demonstrates continued execution of our strategy, with the recent sale of our Boston CBD office asset generating a total return for investors in excess of 26% per annum and recycling capital into a high quality core-plus multifamily asset where we can continue to drive investment performance," he said.