Gantry secured a $32.5 million permanent loan as construction takeout financing for the Edison at Tiffany Springs, a class-A multifamily community delivered in 2022 and located in Kansas City, Missouri’s, dynamic Tiffany Springs/Northland region.
The property features seven three-story buildings offering 243 one-, two-, and three-bedroom units in a mix of unique floor plans. Amenities include a clubhouse with resort-style pool, pickle ball court, golf simulator, fireplace pavilion with TV, grilling stations, fire pits, a gazebo, walking paths and a mix of 72 garages and 337 surface parking spots. In-unit finishes feature nine-foot ceilings, modern kitchens with stainless steel appliances and granite countertops, washers and dryers, plank flooring throughout, walk-in showers, and private patios/balconies.
Gantry’s Joe Monteleone, Principal, and Bonnie Monteleone, Senior Associate, with the firm’s St. Louis production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was secured via Freddie Mac and features partial term interest only transitioning to 35-year amortization.
