Macquarie provides $58.5 million senior mortgage loan secured by One Kansas City Place
01 Mar 2014
Macquarie provided a $58.5 million senior mortgage loan secured by One Kansas City Place, the tallest office building in Kansas City and headquarters for Kansas City Power and Light. The loan was funded $46.5 million at closing with $12 million future funding available for capital expenditures, tenant improvements and leasing commissions.
The loan provided the buyer, a joint venture between Gaw Capital Partners and local investor Executive Hills, with acquisition financing as well as future capital for building upgrades and new leasing. Macquarie was able to close quickly to accommodate Gaw's time frame with the seller.