A 301-unit luxury apartment community in northeast Wichita has changed hands in what real estate brokers are calling the largest multifamily sale in the city's history. Union Mill, located at 2023 N. Broadmoor Ave., was sold to a buyer entity called UM Apts, LLC, with the seller, TLC Properties, represented by a commercial brokerage team spanning two states.
The sale was arranged by a Northmarq investment sales team, according to Connect CRE. Per Northmarq, the deal was led by Senior Vice President Benjamin Davis out of the firm's Tulsa office, working alongside Managing Director Jeff Lamott and Senior Vice President Casey Wilhm from Northmarq's Kansas City office. Davis called the sale a significant milestone for Wichita, saying it validates the city's emergence as an institutional multifamily investment destination.
A Resort-Style Complex Built for the High End of the Market
Union Mill sits on 11.91 acres across 11 buildings, offering studio, one-, two-, and three-bedroom floor plans with contemporary interior finishes. The property was built in 2023 as a 365,000-square-foot development, following groundbreaking in September 2021 by developer TLC Properties and its parent firm, Coryell Collaborative Group, according to the Springfield Business Journal's original reporting on the project. General contractor O'Reilly Build LLC and architect H Design Group LLC handled construction and design, with TLC Properties treating the community as a multimillion-dollar active-lifestyle residential project.
The amenity package leans heavily into luxury lifestyle draws: a heated saltwater pool, a saltwater hot tub, a pickleball court, a mini putting course, a golf simulator, a dog park, EV charging stations, and an on-site bodega convenience store, per listings from Northmarq and rental platform Landing. Rents at the property range from roughly $864 a month for studios to more than $6,000 a month, while listings also describe furnished units, with unit sizes running from 420 to 1,339 square feet, according to Apartments.com — pricing that puts Union Mill's upper-tier units well above Wichita's citywide average rent of about $914 a month.
Location Was Central to the Pitch
Union Mill sits about six miles from downtown Wichita, near Interstate 135 and Highway K-96, giving residents direct access to major employment hubs and nearby commercial destinations. Connect CRE's report on the sale points to the property's proximity to Bradley Fair, Whole Foods Market, Trader Joe's, and Towne East Mall as key selling points for the East Wichita submarket.
The community was 91% occupied at the time of sale, providing a snapshot of the property's position in Wichita's multifamily market.
Wichita's Broader Housing Market Backdrop
The sale also comes against a backdrop of Wichita's broader housing market. Union Mill offers a rental option for residents considering housing in the area.
TLC Properties developed Union Mill in Wichita. Northmarq, the brokerage that represented the seller, operates more than 50 offices nationwide and holds an active loan servicing portfolio exceeding $80 billion, having completed $91.3 billion in transaction volume over a four-year span, per LoopNet. Neither the purchase price nor UM Apts, LLC's operational plans for the property have been disclosed.
