Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $30.5 million permanent loan to refinance maturing debt for a 603,000-square-foot warehouse facility located in the Skyport Industrial Center at 7501 NW 106th Terrace in Kansas City’s fast-growing Northland submarket. The multi-tenant facility underwent a full renovation in 2023 and is now 100%-leased in a multi-tenant format for a range of logistics uses. Building specs include 32’ clear heights, 22,000-square-foot bay size, 135’ deep truck court, cross dock expansion capacity, and ready access to regional and national logistics infrastructure including Kansas City International Airport, I-29 and I-435.

Gantry’s Mark Reichter, Principal, with the firm’s Kansa City production office represented the borrower, a private real estate investor. The seven-year, fixed rate, non-recourse loan was secured through one of Gantry’s correspondent life company lenders and includes one-year of interest only payments transitioning to 30-year amortization. Gantry will service the loan for the lender.

According to Gantry’s Mark Reichter, “Gantry’s life company correspondents compete aggressively for loan allocations to high-quality industrial product. Following a full building expansion and successfully backfilling vacancy left from the departure of a previous single tenant user, sponsorship for this asset was looking to retire an existing maturity while fully maximizing the proceeds available for this modernized facility. After reviewing options including banks and other debt sources, it became rapidly clear that a life company loan would provide the right funding with maximum proceeds at the most attractive rate and non-recourse terms for supporting a continued legacy hold.”