Updated Sep 1, 2026
Gantry Secures $22.75 Million Loan For University Digs Multifamily Community In Pittsburg, KS
1902 South Broadway Street
$22,800,000
Units
190
Asset Type
MultiFamily
Closing
Aug 30, 2026
About this deal
AI
The transaction involves a multi-family asset, specifically the 190-unit University Digs apartment community located at 1902 South Broadway Street in Pittsburg, Kansas. The loan amount secured for this property is $22,800,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $22,800,000
- Address: 1902 South Broadway Street
- Market: Pittsburg, KS
- Brokers: Mark Reichter & Alec Frook - Gantry
Gantry played a significant role in this transaction by securing a permanent loan for the property adjacent to Pittsburg State University. The loan amount is closely aligned with the needs of the University Digs apartment community.
Players
Pittsburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93