The new entity is being headed by David Hannan, MGI's senior vice president of property management. The group will perform construction consulting, leasing services and property management for two class-A properties in the Kansas City area. The properties, The Manor Homes at Foxcrest in north Kansas City and City Homes at Fall Creek in Blue Springs have 272 and 200 units, respectively. The properties are being developed by Kansas City-area real estate firms. Leasing begins in the spring.
The Manor Homes at Foxcrest will be a garden-style multifamily community, while the City Homes at Fall Creek is a high-end apartment property located in the upscale master-planned community of Fall Creek.
David Hannan tells GlobeSt.com that The Manor Homes project calls for construction consulting, including review of floor plans, comps, landscape plans and submarket research. The strategy is to ensure that "what the developer brings to life is what the market demands," says Hannan.
MGI's institutional-based third party management group plans to focus on securing contracts in Houston, Denver, San Diego and Atlanta. Hannan says MGI's extensive history in those markets will bolster the initiative to act as a bridge between the developer and customers. MGI has offices in all of the target areas as well as Kansas City and Orange County, CA.
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