CBRE Capital Markets’ Debt & Structural Finance team recently arranged $63 million in permanent financing for the recapitalization of Space Center Executive Park and Space Center Summit Park.
The two parks make up 6.7 million square feet of subsurface industrial space in the Kansas City, Missouri, metropolitan area.
Doug Seylar, Murray Kornberg, Scott Larson, Ben Bastian and Jessica Lytle of CBRE’s Minneapolis office represented the borrower, Space Center Kansas City, Inc. The borrowing entity is affiliated with St. Paul-based Space Center.
CBRE secured the 15-year, sub-3.80 percent interest rate loan through its relationship with the Northwestern Mutual Life Insurance Company.