Berkadia has facilitated the sale of The Locarno, a historic 110-unit multifamily property in Kansas City, Missouri, to ELKCO Properties and Leale Capital, reflecting a strategic investment in the region's evolving real estate market.

Information on the Target

The Locarno is a distinctive multifamily property located in the heart of Kansas City, Missouri, encompassing 110 residential units within a high-rise structure. Built in 1928 and renovated in the mid-1980s, The Locarno stands at 235 Ward Parkway, offering residents breathtaking views of the iconic Country Club Plaza and Brush Creek. The property is not only known for its rich history but also for its strategic placement, allowing easy access to numerous shopping and dining options, major employers in the metro area, and several universities.

Recently sold to ELKCO Properties in partnership with Leale Capital, both based in Denver, Colorado, The Locarno continues to hold significant value within the community. Senior Director Michael Spero of Berkadia, who facilitated the transaction, highlighted the importance of this property to generations of Kansas City residents, reflecting its strong local legacy.

Industry Overview in Kansas City

The multifamily real estate market in Kansas City has demonstrated resilience and growth, driven by a robust economy and an increasing demand for rental housing. The region has experi