GENE FIELD APARTMENTS
St. Joseph, MO
Refinance senior debt into a long term fixed rate loan
JC Cap is pleased to announce the recent closing of a $2,300,000 fixed rate permanent loan secured by Gene Field Apartments, 107 unit multifamily property located in St. Joseph, Mo. The loan was funded by a local Kansas City based bank at a sub 4% interest rate. The loan was written for a 10 year term, 25 year amortization, with one year interest only. Proceeds were used to payoff senior debt, and cover closing costs.
2109 BROADWAY LOFTS
KANSAS CITY, MO
Refinance bank debt into a long term fixed rate loan
JC Cap is pleased to announce the recent closing of a $3,825,000fixed rate permanent loan secured by 2109 Broadway Lofts, a 34 unit multifamily property located in the exciting Crossroads community of downtown Kansas City. The loan was funded by Fannie Mae and carries a 12 year fixed rate term with a 30 year amortization. Proceeds were used to payoff the existing bank lender, cover closing costs, and fund replacement and capital reserves.
PARK LANE APARTMENTS
LEE’S SUMMIT, MO Financing Assignment : PLACED SENIOR DEBT WITH MISSOURI BASED PENSION FUND JC Cap is pleased to announce the recent closing of a $2,800,000 loan secured by ParkLane Apartments, a 60 unit multifamily property, built in 1964 and located at 801 Northwest Park Lane in Lee’s Summit, Jackson County, Missouri 64063. Proceeds were used to refinance the existing loan. The loan was placed with a Missouri based pension fund which specializes in financing small balance loans,$1-$4.5mm in Kansas & Missouri. Terms were 10 years with the interest rate fixed at loan application, 30 year amortization.
RETAIL CENTER – Overland Park, KS72,000 Sq. Ft. Loan: $6,500,000 Lender: Bank LTV: 70% Terms: 5+5 Amortization: 25 Years Recourse: Non-Recourse Purpose: Payoff CMBS Loan