Updated Jun 27, 2025
Gantry Secures $30.25 Million Refinance Loan For Black Lark Apartments In Kansas City
1980 North 2nd Street
$30,250,000
Building Size
—
Asset Type
MultiFamily
Closing
May 21, 2025
About this deal
AI
The asset involved in the transaction is the Black Lark Apartments, located at 1980 North 2nd Street in Kansas City, KS. This property is categorized as MultiFamily and is a stabilized market-rate property following recent renovations and lease-up by a private investor.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $30,250,000
- Loan Type: Refinance
- Loan Terms: five-year, fixed rate loan with a 30-year amortization
- Brokers: Alec Frook & Mark Reichter - Gantry
The refinancing was secured through a private balance sheet lender by Gantry, specifically aimed at refinancing bridge debt. This move reflects strategic repositioning efforts by the investor to enhance the property's market performance.
On the Map
$30,250,000
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