Thursday, November 26, 2020
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Coach House

Address 655 East Minor Drive, Kansas City, MO, USA
City/State: Kansas City, Missouri - MO
Size: 807 Unit
Property type: Multifamily
Status: SOLD
Transaction Date: 09/30/2020
Buyer: Harbor Group International
Price: $81,500,000
Price per unit /sqft: $100,991
Loan amount: 56400000


Note:
The buyer has assumed a $56.4 million Freddie Mac loan against the property that's securitized through FREMF, 2017-K64. The loan requires only interest payments through November 2021, after which it amortizes on a 30-year schedule. It pays a coupon of 4.32 percent and matures at the end of 2026. For the 12 months ended March, the property was 94 percent occupied and generated $4.1 million of net cash flow, according to servicer data compiled by Trepp LLC. That would place a 5.02 percent capitalization rate on the sales price.


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