Dealmaker: Q10 Triad Capital Advisors Closes $57M for Kansas Multifamily

Q10 Triad Capital Advisors, Kansas City, arranged $57.4 million in long-term fixed-rate financing for Villas at Waterside in Lenexa, Kan.

The five-story multifamily community developed by Block Real Estate Services LLC, Kansas City, Mo., has 298 units with large floor plans over a parking garage in Johnson County, Kan.

Q10 Triad Executive Vice President Mark Reichter and Loan Analyst Alec Frook closed the loan. Reichter said the developer sought to lock in an attractive interest rate before the Federal Reserve raised rates.

PNC Real Estate was able to lock rate within two weeks of application through its Agency Finance team. It provided an attractive 10-year fixed-rate Fannie Mae Delegated Underwriting and Servicing program loan with two years of interest-only payments through Fannie Mae’s Near Stabilization Execution program.