Crain Development Secures $28.5 Million Construction Loan For Prairie Wolf Villas In Overland Park

The asset involved in the transaction is a development site located on West 176th Street in Overland Park, Kansas. The site spans 253,974 square feet and is part of a phased 160-unit Build-to-Rent (BTR) project known as Prairie Wolf Villas (PWV). The project is included in a larger 70-acre master development that encompasses both commercial space and multifamily apartments.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $28,537,622
• Loan Type: Construction
• Loan Terms: 36-months
• Lender: NASB (North American Savings Bank)
• Landlord: Crain Development
• Brokers: Michael Lohan, Evan Gaines & Luke Burns - Nineteen Blocks

Nineteen Blocks represented Crain Development in this transaction, emphasizing the strategic location of the project directly across from Blue Valley SW, a top-rated school in the Kansas City Metro. The firm is actively seeking to capitalize developers across the nation by providing both equity and debt solutions.