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AcquisitionsMidwestMissouriMultifamilySeniors Housing

American House, Winterpast Capital Acquire 192-Unit Seniors Housing Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — American House Senior Living Communities and Winterpast Capital Partners have acquired St. Anthony’s Senior Living, a 192-unit community in Kansas City. Helios Healthcare Advisors brokered the sale. Situated on a 4-acre campus in the Brookside neighborhood, the property consists of independent living units, assisted living units and memory care residences. Originally home to the Highland Tower medical office building, the property underwent a $40 million redevelopment beginning in 2019. The original structure was stripped to its steel and concrete frame and transformed into a nine-story independent living community, while a newly constructed assisted living and memory care building was completed adjacent to the tower in 2020. Following an initial opening during the pandemic and a challenging post-COVD lease-up, the seller retained a regional operator to manage the community in March 2024 with a mandate to improve operations, optimize expenses and accelerate occupancy growth.

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IndustrialLoansMidwestMissouri

Gantry Secures $30.5M Permanent Loan for Kansas City Logistics Facility

by Kristin Harlow

KANSAS CITY, MO. — Gantry has secured a $30.5 million permanent loan to refinance maturing debt for a 603,000-square-foot warehouse located in the Skyport Industrial Center in Kansas City’s Northland submarket. The multi-tenant facility underwent a full renovation in 2023 and is now fully leased. The building features a clear height of 32 feet, 22,000-square-foot bay size, 135-foot-deep truck court, cross dock expansion capacity and access to the Kansas City International Airport, I-29 and I-435. Mark Reichter of Gantry represented the borrower, a private real estate investor. A life insurance company provided the seven-year, fixed-rate nonrecourse loan, which includes one year of interest-only payments transitioning to a 30-year amortization. Gantry will service the loan for the lender.

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AcquisitionsMidwestMissouriMultifamily

Northmarq Brokers $70M Sale of Multifamily Property in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Northmarq has brokered the $70 million sale of Villages at Lake Silvercote, a 381-unit, garden-style multifamily property in Wentzville. Dominic Martinez, Parker Stewart, Alex Malzone and Charlie McKee of Northmarq represented the seller, a local investment group. The buyer was a private firm. Villages at Lake Silvercote features a mix of one-, two- and three-bedroom apartments and townhome-style residences, averaging 1,190 square feet. Amenities include a pool, fitness center, clubhouse and barbecue grill areas.

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AcquisitionsMidwestMissouriOffice

King Realty Advisors, Colliers Arrange Sale of 217-Acre Office Campus in St. Louis

by Kristin Harlow

ST. LOUIS — King Realty Advisors and Colliers have arranged the sale of the 217-acre office campus at 8000 W. Florissant Ave. in St. Louis. Bryan King of King Realty Advisors represented the buyer, Jim Onder. Joe Hill of Colliers represented the seller. According to the St. Louis Business Journal, the most recent owner of the former Emerson Electric Co. campus was technology company Copeland, which will continue to occupy its current headquarters at the property and lease from the new owner. Copeland is an Emerson spinoff company owned by Blackstone. The property is comprised of nine buildings totaling 980,644 square feet.

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DevelopmentMidwestMissouriMultifamily

Life Time, Midas Hospitality to Open 263-Unit Luxury Apartment Complex in Metro St. Louis

by Kristin Harlow

RICHMOND HEIGHTS, MO. — Life Time is expanding its presence in the St. Louis market with plans to introduce Life Time Living, its wellness-centered luxury residential concept, through a new partnership with Midas Hospitality. The seven-story development in Richmond Heights will combine upscale residences with Life Time’s signature athletic club. Plans call for 263 apartment units in a mix of studio, one- and two-bedroom layouts. Residents will benefit from direct access to a 110,000-square-foot Life Time athletic club. Amenities will include a 30,000-square-foot rooftop pool and outdoor amenity deck; fitness, training and recovery spaces; dedicated group fitness studios and personal coaching services; and indoor and outdoor gathering spaces. There will also be 6,000 square feet of retail space. The project will be part of the broader Boulevard South mixed-use development along Brentwood Boulevard.

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Affordable HousingDevelopmentMidwestMissouriMultifamily

Milhaus to Build 194-Unit Affordable Housing Project in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Milhaus has received approval from the Missouri Housing Development Commission (MHDC) for Low-Income Housing Tax Credits (LIHTC) to advance Linwood & Troost Apartments in Kansas City. The project will convert two vacant lots at 2300 Troost Ave. into an affordable housing development featuring two four-story buildings with 194 units. The project marks the first LIHTC development in Kansas City for Milhaus. Funding for the development includes 4 percent federal tax credits through the MHDC LIHTC program, a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. All units will serve households at or below 60 percent of the area median income. Construction is expected to begin by the end of 2026, with completion anticipated in 2028. Milhaus is serving as both developer and general contractor.

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LoansMidwestMissouriMultifamily

Gantry Arranges $32.5M Permanent Loan for Kansas City Multifamily Property

by Kristin Harlow

KANSAS CITY, MO. — Gantry has arranged a $32.5 million permanent loan as construction takeout financing for the Edison at Tiffany Springs, a multifamily community delivered in 2022 in Kansas City’s Tiffany Springs/Northland area. The property features seven three-story buildings offering 243 units in a variety of floor plans. Amenities include a clubhouse, pool, pickleball court, golf simulator, walking paths and a mix of 72 garages and 337 surface parking spots. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate investor. The Freddie Mac loan features a 10-year, fixed interest rate with partial-term interest-only payments followed by a 35-year amortization.

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AcquisitionsIndustrialLoansMidwestMissouri

Northmarq Secures $13.7M Bridge Loan for Innerbelt Business Center in Metro St. Louis

by Kristin Harlow

OVERLAND, MO. — Northmarq has secured $13.7 million in acquisition financing for Innerbelt Business Center, a 191,925-square-foot flex/showroom property in Overland near St. Louis. Lucas Goring and Andy Finn of Northmarq arranged the financing on behalf of Fountain Real Estate Capital through a regional bank. The five-year loan features three years of interest-only payments along with future funding. The property is close to stabilization, but Fountain will look to push rents to market as leases reach expiration, according to Northmarq.

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AcquisitionsMidwestMissouriRetail

Gart Properties Acquires 158,000 SF Shopping Center in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Gart Properties has acquired Village at Burlington Creek, a 158,000-square-foot, grocery-anchored shopping center in Kansas City’s Northland corridor. Situated less than 10 miles from downtown with direct access to I-29, Village at Burlington Creek is home to Sprouts Farmers Market, Orangetheory Fitness, Club Pilates, Caribou Coffee, Taco Bell and a variety of daily needs businesses. The acquisition marks Gart’s first outside of Colorado. Chris Robertson of Newmark Zimmer represented Gart. PNC financed the transaction.

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CivicDevelopmentMidwestMissouri

HDA, ISC Contracting Complete Renovation of St. Louis Jewish Community Center’s Marilyn Fox Building

by Kristin Harlow

CHESTERFIELD, MO. — Architect HDA and ISC Contracting have completed a comprehensive renovation of the St. Louis Jewish Community Center’s Marilyn Fox Building in Chesterfield. The 87,930-square-foot renovation project reimagined the longstanding community hub with expanded amenities, modernized spaces and enhanced accessibility. Originally constructed in 1996 with a minor renovation in 2008, the Marilyn Fox Building has long served as a place for community recreation in West St. Louis County. HDA partnered with the St. Louis Jewish Community Center to breathe new life into the facility. The project included the addition of a new Adult Day Center with capacity for 36 participants as well as new locker rooms, a redesigned lobby and gathering space and upgraded infrastructure systems. Additional improvements included renovations to the gymnasium, fitness center and Early Childhood Center along with expanded kitchen facilities, dedicated pickleball courts, upgraded security and communications systems and exterior enhancements. Construction began in April 2024. The facility remained operational throughout the construction process. ODA Studio served as the interior designer.   

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