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LOVE FUNDING CLOSES $20.5M LOAN TO CONVERT HISTORIC KANSAS CITY BUILDING

KANSAS CITY, MO. — Love Funding has arranged a $20 million loan to rehabilitate a historic building in downtown Kansas City, which will be converted into a 130-unit apartment building. Holly Bray of Love Funding secured the financing through the U.S. Department of Housing and Urban Development's 221(d)(4) loan insurance program. The borrower is Landwhite Developers LLC. The property is located at 323 W. 8th St. and was built in 1910 by the Burnham Munger-Root Dry Goods Co. The eight-story building was used to make a range of rubber products for decades, before it was renovated into office space in 1980.

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