Griffin Capital Acquires Union Berkley Riverfront Apartments in Kansas City
Private real estate investment manager Griffin Capital Company has officially announced the acquisition of Union Berkley Riverfront Apartments, a 407-unit, Class A multifamily community located in Kansas City’s Berkley Riverfront district.
Completed in 2018 as a $72 million project, Union Berkley Riverfront is one of only two luxury apartment communities situated directly along the Missouri River and is located within Port KC’s 55-acre master-planned riverfront redevelopment that will bring an expansion of restaurants and amenities to the neighborhood in 2026. The property features modern one- and two-bedroom residences with contemporary finishes and amenities, such as a resort style pool, pickleball court, and bike storage.
Griffin purchased the property from Buckingham Companies last November for $113.5 million. MMG Real Estate Advisors arranged the sale and identified it as the largest single-property sale ever recorded in Kansas City.
The acquisition was made on behalf of Griffin Capital (Union – Kansas City, MO) DST, a Delaware statutory trust sponsored by Griffin and structured for 1031 exchange investors. According to multiple industry sources, the offering launched in December 2025 seeking an equity raise of approximately $59.9 million.
“Kansas City continues to demonstrate strong multifamily fundamentals, supported by population growth, job creation, and economic diversification. The metro has benefited from significant corporate investment and infrastructure development, while maintaining relative affordability compared to larger coastal markets,” said Paul De Martini, chief investment officer of Griffin Capital. “Multifamily occupancy in the market is projected to remain stable through the end of the decade, supported by disciplined new supply.”
Union Berkley Riverfront is positioned to benefit from substantial public and private investment occurring within the Berkley Riverfront district, including new green space, a riverwalk, retail development, the $117 million CPKC Stadium, and a planned streetcar extension scheduled to open in early 2026, with a stop adjacent to the property. According to Griffin Capital, the community has demonstrated strong operating performance, achieving high occupancy and positive leasing momentum, and comparable Class A communities in the submarket are leasing at higher rent levels, highlighting the property’s competitive positioning within the riverfront corridor.
Griffin plans to implement a targeted capital investment program focused on maintaining the property’s competitive position and enhancing the resident experience, while transitioning management to an institutional multifamily operator with a significant local presence.
“The acquisition aligns with Griffin’s strategy of investing in institutional-quality rental housing assets located in markets with durable fundamentals and long-term growth drivers” said Nick Rosenthal, co-chief executive officer of Griffin Capital.
Griffin Capital Company is a full-service real estate investment and management company. Since 1995, the firm has owned, managed, sponsored, or co-sponsored approximately $24.5 billion in assets across a range of real estate sectors and investment structures. Griffin’s senior executives and employees have co-invested over $300 million in various investment verticals. The firm’s rental housing portfolio includes 45 institutional-quality communities, comprising over 14,700 multifamily units and 693 student housing beds, representing a total project value exceeding $4.9 billion, as of Sept. 30, 2025.
For more Griffin Capital news, please visit their directory page.
