Ad Astra Capital Secures $16.25 Million Loan From Intrust Bank For Wichita Hotel Purchase

The property asset involved in this transaction is a 129-room hotel located at 820 East 2nd Street North in Wichita, Kansas. The hotel was originally constructed as a warehouse in 1929 and underwent redevelopment in 2006. It was previously owned by Artemis Real Estate Partners. The transaction amounted to $16,250,000, financed by Intrust Bank.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $16,250,000
• Address: 820 East 2nd Street North
• Market: Wichita, KS
• Units: 129
• Lender: Intrust Bank
• Landlord: Ad Astra Capital

Ad Astra Capital secured the financing from Intrust Bank for the purchase of the hotel. The transaction highlights the involvement of key financial institutions and real estate entities, emphasizing the active nature of the Wichita hotel market.