Gantry Secures $50.75M Refinance Loan For Kansas City Multifamily Properties

The transaction involves the refinancing of two multifamily properties located at 4018 Harvard Lane and 2942 Wornall Road in Kansas City, MO. The assets consist of a total of 355 units, specifically the 222-unit Palisades Apartments and the 133-unit Mayfair Apartments, which are now stabilized and generating cash flow following renovations. The total loan amount secured for this refinancing is $50,750,000 with fixed-rate terms set for five years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50,750,000
• Loan Type: Refinance
• Loan Terms: 5-year
• Units: 355
• Address: 4018 Harvard Lane & 2942 Wornall Road
• Market: Kansas City, MO
• Brokers: Mark Reichter & Alec Frook - Gantry

Gantry played a key role in securing the financing for this deal, facilitating the transition from bridge debt to a more stable financial structure for the properties involved. The refinancing supports the ongoing success of the renovated units, which have become cash-flowing after undergoing repositioning efforts.