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Gantry Secures $30.25 Million Refinance Loan For Black Lark Apartments In Kansas City
FINANCED
$30,250,000
Kansas
See Similar DealsMultiFamily
Financed 05/21/2025
FINANCED
Gantry Secures $30.25 Million Refinance Loan For Black Lark Apartments In Kansas City
1980 North 2nd Street
See Similar DealsMultiFamily
Financed 05/21/2025
Summary
KANSAS
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,250,000.00
Monthly NOI$201,666.67
Monthly Debt Service$191,200.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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