January 30, 2019
New York-based Somera Road, Inc. secured $60.2 million in acquisition bridge financing for 1100 Main Street, a 30-story, 657,070-square-foot, Class A office building in Kansas City, MO. The floating-rate acquisition bridge loan was provided through TPG RE Finance Trust.
The property was acquired in an off-market transaction. Loan proceeds will be used to renovate, rebrand and reposition the property as the premier downtown office tower in Kansas City.
The property is located on a whole city block at 1100 Main St. in the heart of Kansas City’s CBD, and serves as the gateway to Kansas City’s Power & Light District, which offers tenants numerous retail, dining and entertainment options. The property has immediate accessibility to public transport via the Kansas City Streetcar stop directly outside the building. Current tenants include Dollar Burns & Becker; Kansas City Business Journal; Pinsight Media +, Inc.; and Alight Analytics.
HFF’s Leon McBroom and Mark Katz represented the borrower.
For comments, questions or concerns, please contact Dennis Kaiser