How Midwest CRE Advisors Drove 7 Offers and Achieved a Near Full-Price Closing in 100 Days Through Strategic Pre-Positioning and Execution

Case study: sale of Southview Apartments, a 2000s vintage multifamily property in Holton, Kansas.

When Southview Apartments was brought to market, the opportunity wasn’t just about selling an asset.

It was about preparing it to win.

Located in Holton, Kansas—a tertiary market roughly 30 minutes from Topeka and one hour from Kansas City—the property required a highly strategic approach to attract the right buyer pool and achieve full value.

Small-market multifamily assets often face:

• Limited visibility
• A smaller pool of active investors
• Financing and underwriting challenges—especially for first-time buyers

At the same time, the seller—a sophisticated ownership group represented by an experienced, licensed investor with a large portfolio—had clear expectations.

This was not a seller looking for basic guidance.

This was a seller looking for execution.

Their objective was simple:
👉 Achieve a full-value exit with certainty.

But to get there, the strategy started before the property ever hit the market.

Inside a Kansas Multifamily Deal: Southview Apartments Sale Overview

• Property name: Southview Apartments 
• Location: Holton, Kansas (30 min to Topeka, 1 hr to Kansas City)
• Property type: multifamily
• Vintage: 2000s construction
• Occupancy at listing: 92%
• Cap rate at list: 8.0%
• Condition: modern construction with low deferred maintenance
• Value-add opportunity:
  
  • $120K+ annual rent roll upside
  • $50K/unit repositioning potential
  • Proven rental increases in-place
• Market fundamentals:
  
  • 1.9% unemployment
  • Home values increasing ~6% YoY
• Seller type: experienced ownership group (licensed investor)
• Buyer profile: out-of-state, first-time multifamily investor 
• Representation: Midwest CRE Advisors represented the seller
• Days to LOI: 17 days 
• Timeline: 100 days from list to close 
• Offers generated: 7
• Execution price: ~99% of list price ($1,757,000 contract)

Pre-Market Strategy: Positioning the Asset Before Launch

The defining advantage in this transaction came before the listing date.

March 2, 2025 — Initial Conversation

The seller approached us with a key question:

“What do I need to do to sell at my target price?”

March 5, 2025 — Strategic Plan

We conducted a full analysis of the asset and ownership goals and identified a three-part strategy:

• Increase occupancy
• Prove out pro forma rental upside
• Strengthen the story for incoming investors

The seller executed on the plan.

This step is critical—and often skipped.

Most brokers list properties as-is.

We position them to win.

Creating Maximum Visibility Through a Strategic Launch

April 21, 2025 — Property Goes Live

The launch phase focused on generating immediate visibility and momentum.

And the numbers tell the story:

• CREXi:
  
  • 36,737 impressions
  • 899 views
  • 140 visitors
  • 62 OMs opened
• LoopNet:
  
  • 14,216 views
  • 4,431 unique visitors
  • 599 detailed views
  • 6 qualified leads
• LinkedIn Campaign:
  
  • 5 posts + newsletter + LinkedIn Live
  • 20,000+ impressions
• Email Campaign:
  
  • 5,000+ targeted investors
  • 70% open rate
  • 5.37% click-through rate

This created immediate market awareness and inbound demand—a critical factor in smaller markets where demand must be actively built.

Driving Offers Through Relentless Follow-Up

Exposure alone doesn’t create offers—execution does.

Following launch, we implemented an aggressive follow-up strategy:

• Direct outreach to every qualified lead
• Continuous communication with buyers and brokers
• Value-based conversations to move buyers toward action

This resulted in:

• 7 competitive offers
• A signed contract within 17 days
• Strong leverage for the seller

This is where most deals separate.

Not in marketing.

In follow-through.

Navigating Complexity in Due Diligence and Closing

While generating offers is critical, execution determines the outcome.

This transaction included several challenges:

• A first-time investor navigating multifamily underwriting
• Financing complexities common in tertiary markets
• Inspection and compliance-related hurdles
• Alignment between buyer, lender, and seller expectations

We took an active role in managing the process by:

• Coordinating inspections and third-party vendors
• Working directly with lenders to ensure deal viability
• Solving compliance and due diligence issues in real time
• Maintaining consistent communication across all parties

This hands-on execution ensured the deal stayed on track.

Managing Execution to Protect Value

Many small-market deals lose momentum during due diligence.

In this case, maintaining deal stability required:

• Constant communication
• Strategic problem-solving
• Clear alignment between all stakeholders

By managing the process proactively, we were able to:

• Prevent retrades
• Maintain pricing integrity
• Drive the transaction to closing

This is where deals are won—or lost.

Why This Strategy Delivered Results

This transaction highlights a repeatable framework for success:

• Pre-market positioning: Created a stronger, more compelling asset before launch
• Strategic marketing: Generated immediate visibility and demand
• Relentless follow-up: Converted interest into competitive offers
• Active deal management: Ensured execution through closing

Together, these elements allowed us to achieve a near full-price outcome in a complex market.

Transaction Outcome

The property went under contract within 17 days at $1,757,000—approximately 99% of the asking price—and successfully closed in 100 days.

The seller achieved their pricing objective, and the buyer successfully completed their first multifamily acquisition.

Transaction Results

• 7 offers generated
• LOI secured in 17 days
• 100 days from list to close
• Closed at ~99% of asking price
• 20,000+ LinkedIn impressions
• 50,000+ total campaign impressions across all channels
• First-time investor successfully completed acquisition

Considering Selling a Multifamily Property in a Secondary or Tertiary Market?

Success in smaller markets requires more than exposure.

It requires:

• Strategic positioning before launch
• Targeted buyer outreach
• Hands-on deal execution

At Midwest CRE Advisors, we focus on identifying where value exists—and executing the strategy to realize it.

If you're considering selling, we’d be happy to help you position your property for maximum results.

FAQs About Selling Multifamily Properties in Small Markets

Are small-market multifamily properties harder to sell?
They can be—but with the right strategy, strong demand can be created and converted into results.

What role does pre-market strategy play?
Preparing the asset before listing can significantly impact pricing, demand, and overall execution.

Why is follow-up critical?
Buyers in these markets often require more engagement and guidance to move forward.

How can sellers protect pricing?
By creating early competition and actively managing the deal through closing.

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