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NASB recently provided $6,109,919 in acquisition and development financing to support the second phase of a build-to-rent (BTR) townhome development in Kansas City, Missouri.
The financing supports the development of 47 townhome lots within the Barry West Townhome Development. Structured to meet the needs of an active developer, the transaction provides capital to support the next phase of a growing BTR community in the Kansas City's Northland market.
“Transactions like this demonstrate NASB’s ability to support developers with flexible financing solutions for build-to-rent communities,” said Tom DeGregorio, Senior Vice President and Construction and CRE Lending Manager at NASB.
This project highlights NASB’s continued commitment to partnering with developers on residential projects that help meet demand for quality housing options in growing communities. Sallee Development is moving into Phase II of the Barry West BTR community, with the 47 developed lots contributing to a planned 185-door townhome complex.
Project Snapshot
- Project Name: Barry West Townhomes – Phase II
- Location: North Kansas City, MO
- Financing Type: Land Development
- Total Financing: $6,109,919
- Project Type: BTR townhome development
- Scope: 47 developed townhome lots with 185 doors
For more information about NASB’s construction & commercial real estate financing capabilities, visit nasb.com/homebuilders.