Gantry, a real estate financing firm, has successfully obtained a $32 million permanent loan to pay off the construction financing for Lenexa Logistics Centre North #5. This property is located at 10901-10941 Mill Creek Rd in Lenexa, Kansas and is situated in the suburban submarket of the Kansas City MSA.
The Class A warehouse space spans over 565,170 square feet and is fully leased out to multiple tenants. It was completed in 2022 and boasts immediate access to major highways such as I-35, I-435, and Highway 10.
Mark Reichter (Principal) and Alec Frook (Associate) from Gantry’s Kansas City production office represented the borrower – a private real estate investor – during this transaction. The loan term spans over ten years with an insurance lender through Gantry that offers fixed interest rates along with an introductory interest-only period before transitioning into a 30-year amortization schedule.
Reichter stated that industrial properties like Lenexa Logistics Center are highly sought after by Gantry’s extensive list of insurance company lenders.
