Village East Apartments

Village East Apartments, built in 1971, has been sold. Courtesy

Village East Apartments, 11501 E. 22nd Place, has a new owner.

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Ironwood Real Estate, LLC and Broadway Ridge, LLC, of Fort Scott, Kan., purchased the property for $7.285 million from Michael Nelson, who with another investor had owned the property 30 years. Darla Knight and Mike Buhl of Commercial Realty Resources Co. handled the transaction.

Built in 1971, the property encompassed 186,660 square feet over 25, two-story buildings. The purchased price for the 235 units was $31,000 per unit. One single-story duplex was included in the sale.

Village East was more than 90% occupied at the time of sale.

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