JLL Secures $221M For Kansas Office Campus

JLL, Chicago, secured $221.2 for Group RMC Corp. to acquire Corporate Woods, a 2.2 million-square-foot office campus with 22 mostly Class A office buildings in Overland Park, Kan.

Executive Vice President Adam Schwartz, Managing Director Jonathan Schwartz and Executive Vice President Mark Fisher led the JLL team on the financing.

Adam Schwartz said institutional lenders provided the 10-year fixed-rate loan.

“Suburban office campuses are providing experienced sponsors a smart place to find yield, and lenders are underwriting that sentiment,” Adam Schwartz said.

Located at the confluence of I-435 and US-69, Corporate Woods includes 2.1 million rentable square feet over 294 acres, making it the largest corporate campus between Chicago and Denver. The campus is currently more than 90 percent occupied, with assets ranging from one to 16 stories.

JLL also secured acquisition financing for Sunridge Apartments, a 332-unit affordable apartment community in Grand Prairie, Texas. Managing Director Mark Brandenburg secured the financing through the Freddie Mac Targeted Affordable Housing program for sponsor Sunridge 332 Partners LP.

“Affordable housing communities continue to attract lender interest, especially assets that are located near major metro areas where there is strong demand,” Brandenburg said.
Freddie Mac Multifamily’s Targeted Affordable Housing program provides financing for rental properties affordable to families with low and very-low incomes, including cash loans, bond credit enhancements, tax-exempt loans and others.