**Gantry Secures $11.5M Loan for Kansas City Multifamily Acquisition**
Gantry has successfully arranged an $11.5 million loan for the acquisition of The Life at Highland Village, a 200-unit garden-style apartment complex located at 8619 East 61 Terrace in Kansas City, Missouri.
The property comprises 11 buildings featuring a mix of one- and two-bedroom units. The loan was secured by Gantry’s Mark Reichter, Principal, and Alex Frook, Associate, from the firm’s Kansas City production office. The borrower is a private real estate investor.
The financing is a three-year, fixed-rate loan provided by one of Gantry’s correspondent insurance company lenders. It includes an initial interest-only period and transitions into a 30-year amortization schedule.
“This was a unique assignment for an acquisition transaction that was stalled by a loan default before a successful sale could be concluded by the past sponsorship,” said Reichter. “This loan positions new sponsorship to leverage their local market expertise to improve leasing and occupancy and complete a full renovation for remaining units over time as they guide the property back to full occupancy and stabilization.”
