FINANCEDMultiFamily
Gantry Secures $30.3M Refinance Loan For Black Lark Apartments In Kansas City
1979 North 3rd Street
$30,300,000
Units
265
Asset Type
MultiFamily
Closing
May 22, 2025
AI
The asset involved is a multifamily property located at 1979 North 3rd Street in Kansas City, MO, featuring a total of 265 units. The transaction involves a refinance loan amounting to $30,300,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,300,000
- Loan Type: Refinance
- Date: 05/22/2025
- Address: 1979 North 3rd Street
- Market: Kansas City, MO
- Units: 265
The brokers facilitating this transaction are Alec Frook and Mark Reichter from Gantry, who secured the permanent loan for refinancing the Black Lark Apartments.
Players
Kansas City 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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93