Updated Jun 27, 2025
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
About this deal
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.
On the Map
$30,300,000
MultiFamily
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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