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Gantry Arranges $32 Million Loan For Fully Leased Lenexa Logistics Centre North In Kansas City

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FINANCED
$32,000,000
Mark Reichter
Alec Frook

Kansas

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Industrial1,130,340 SF
Financed 01/22/2025
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Property Image
FINANCED

Gantry Arranges $32 Million Loan For Fully Leased Lenexa Logistics Centre North In Kansas City

10901 Mill Creek Road & 10941 Mill Creek Road

See Similar Deals
Industrial1,130,340 SF
Financed 01/22/2025
Mark Reichter
Alec Frook
the dealplayerscompscontact
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Summary

KANSAS
Asset Type:Industrial
Price Per Square Foot:$28
Total Square Footage:1,130,340 SF
Transaction Type:Loan

The property involved in this transaction is an industrial asset located at 10901-10941 Mill Creek Road in Lenexa, KS. It encompasses a total area of 565,170 square feet. The transaction was marked by the arrangement of a loan amounting to $32,000,000, specifically constructed to retire construction financing for the fully leased Lenexa Logistics Centre North, which was completed in 2022.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $32,000,000
  • Loan Type: Construction
  • Market: Lenexa, KS
  • Asset Size: 565,170 SF
  • Loan Secured: 10-year loan with a fixed interest rate and interest-only period
  • Brokers: Alec Frook & Mark Reichter - Gantry

This transaction was facilitated by brokers Alec Frook and Mark Reichter from Gantry. They played a critical role in arranging the permanent loan to transition from construction financing, ensuring the successful financing of this logistics center in Kansas City.

Players

Mark Reichter
Gantry
Mark Reichter
9 deals$289.4M volume(816) 841-0951
BROKER
Alec Frook
Gantry
Alec Frook
9 deals$289.4M volume(816) 841-0965
BROKER

Details

FINANCED
IMAGE: 01/22/2025 ADDRESS: 10901-10941 Mill Creek Road MARKET: Lenexa, KS ASSET TYPE: Industrial ~ SF: 565,170 BROKERS: Alec Frook & Mark Reichter - Gantry LOAN AMOUNT: $32,000,000 LOAN TYPE: Construction NOTE: Gantry arranged a $32M permanent loan to retire construction financing for the fully leased Lenexa Logistics Centre North in Kansas City. The 565,170-square-foot property, completed in 2022, secured a 10-year loan with a fixed interest rate and interest-only period, facilitated by Mark Reichter and Alec Frook.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,000,000.00

Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00