Greg Duvall, senior vice president and managing director of NorthMarq’s Kansas City regional office, arranged first mortgage refinancing of $11.76 million for Cold Storage Lofts, a renovated 224-unit affordable-housing property located at 500 E. 3rd Street in Kansas City, Mo.
The asset is located in the historic River Market area adjacent to downtown Kansas City. This six-story building was built in 1922 as a refrigerated warehouse and converted to 224 loft-style apartments in 2007. The property features underground parking with a rooftop swimming pool and jogging track.
Financing was based on a 10-year term and a 30-year amortization schedule.
