REBusinessOnline

Arbor Provides $1.6M Acquisition Financing for Multifamily Property in Hutchinson, Kansas

HUTCHINSON, KAN. — Arbor Realty Trust Inc. has provided a $1.6 million Fannie Mae loan for the refinancing of Sandhill Properties in Hutchinson, about 50 miles northwest of Wichita. The 48-unit, garden-style property features amenities such as a swimming pool, basketball court and carports. Eugene Yanovskiy of Arbor originated the 12-year, fixed-rate loan, which features a 30-year amortization schedule. The borrower was not

Sealy & Co. Purchases 601,829 SF Distribution Facility in Suburban Kansas City

OLATHE, KAN. — Sealy & Co. has purchased a 601,829-square-foot distribution facility in Olathe, a suburb of Kansas City. The purchase price was not disclosed. The building, situated on 40 acres at 22101 W. 167th St., is fully leased to FedEx and Bushnell. The property features a clear height of 32 feet, 128 dock doors, two drive-in doors and office space. Adam Herrin, Stephen Bailey and Sean Fogarty of HFF, along with Dan Jensen of Kessinger/Hunter & Co. LC brokered the transaction. …

Dougherty Provides $8.3M Fannie Mae Loan for Acquisition of Apartment Portfolio in Kansas

LAWRENCE, KAN. — Dougherty Mortgage has provided an $8.3 million Fannie Mae loan for the acquisition of a two-property apartment portfolio in Lawrence, located about 42 miles southwest of Kansas City. The portfolio includes Sunrise Village and Sunrise Place for a total of 132 units. The 12-year loan features a 30-year amortization schedule. The borrower was a venture between MJP Property Group and Sky Castle

Block & Co. Arranges Sale of 83,217 SF Retail Center in Lawrence, Kansas

LAWRENCE, KAN. — Block & Co. Inc. Realtors has arranged the sale of an 83,217-square-foot retail center in Lawrence for an undisclosed price. The property, formerly a JC Penney store, was recently redeveloped into a multi-tenant center. Tenants include Hobby Lobby, Five Below and HomeGoods. An undisclosed buyer purchased the asset from 3311 Iowa Investors LLC as part of a 1031 tax-deferred

Overstock.com to Open 517,000 SF Distribution Center in Kansas City, Kansas

KANSAS CITY, KAN. — Overstock.com, an online home goods and furniture retailer, has leased 517,000 square feet at a new distribution center in Kansas City. The building, owned by Los Angeles-based BH Properties, is located at 5300 Kansas Ave. Luke Burbank and Kyle Roberts of Newmark Grubb Acres led the national site search for Overstock.com. Mark Long and John Hassler of Newmark Grubb Zimmer worked with Burbank and Roberts to provide assistance with lease negotiations in the Kansas City …

VanTrust Opens 282-Unit Luxury Apartment Community in Prairie Village, Kansas

PRAIRIE VILLAGE, KAN. — Developer VanTrust Real Estate LLC has opened The Kessler Residences in Prairie Village’s Meadowbrook Park. The 282-unit luxury apartment community features amenities such as a clubhouse, fitness center, private dining room, outdoor kitchen and walking trails. Floor plans range from studios to three-bedroom units. Monthly rents start at $1,281. Pinnacle Property Management Services LLC is managing the property. Meadowbrook Park was formerly a golf and country

Café, Juicery Sign Leases at $49M Apartment Project in Overland Park, Kansas

OVERLAND PARK, KAN. — Parisi Café and Evolve Juicery & Kitchen have signed leases to occupy a combined 4,135 square feet of ground-level retail space at The Vue in Overland Park. Hunt Midwest is developing the $49 million apartment project. Parisi will occupy 2,293 square feet, including a 400-square-foot outdoor patio. Upon opening in early 2019, the café will serve espresso and coffee drinks, pastries, sandwiches and soups. This is the brand’s second location in metro Kansas City. …

PEBB Enterprises Buys 126,909 SF Shopping Center in Overland Park, Kansas

OVERLAND PARK, KAN. — PEBB Enterprises has purchased Pinnacle Village in Overland Park for an undisclosed price. The 126,909-square-foot shopping center is located at the intersection of Blue Valley Parkway and W. 119th Street. The property is currently 74 percent occupied by tenants such as DSW and Michaels. PEBB purchased the asset by acquiring the non-performing loan and foreclosing on the underlying

Cohen Financial Arranges $10.4M Refinancing for Workforce Housing Property in Olathe, Kansas

OLATHE, KAN. — Cohen Financial, a division of SunTrust Bank, has arranged a $10.4 million Fannie Mae loan for the refinancing of Oak Ridge Apartments in Olathe. The 194-unit workforce housing property is fully leased. Cathy Bronkema of Cohen arranged the fixed-rate loan, which features a 15-year term and a 30-year amortization schedule. The borrower was not

Dougherty Provides $3.4M Fannie Mae Loan for Refinancing of Multifamily Property in Lawrence, Kansas

LAWRENCE, KAN. — Dougherty Mortgage has provided a $3.4 million Fannie Mae loan for the refinancing of Rohan Ridge Apartments in Lawrence. The 72-unit multifamily property features one-, two- and three-bedroom units as well as a swimming pool and playground. The 10-year loan features a 30-year amortization schedule. Wenson-Bear Creek Westgate LLC was the

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