Gantry secured a $30.25 million permanent loan to refinance bridge financing for the Black Lark Apartments at 1980 N. 2nd St. in Kansas City, Missouri.
The Class-B, garden-style property underwent a comprehensive renovation program following acquisition in December 2023. The now fully stabilized, market rate apartment community features 265 units in one, two, three and four bedroom formats.
Gantry’s Mark Reichter, Principal, and Alec Frook, Associate, with the firm’s Kansas City production office represented the borrower, a private real estate investor. The five-year, fixed rate loan was provided by a private balance sheet lender with a 30-year amortization.
