Cohen Financial, a national real estate capital services firm, in affiliation with equity investment partner Artis Advisors, recently secured $39.9 million in equity financing for the acquisition of Legends Outlets Kansas City.
The property is a 1.2-million-square-foot outdoor mall located 12 miles west of downtown Kansas City, Kansas. Legends Outlets is located in a growing entertainment and retail district that features the Kansas Speedway, a casino, a professional soccer stadium and the Nebraska Furniture Mart. The area draws an estimated 10 million visitors annually. The property is 94-percent leased.
Kevin O’Grady, senior managing director of Cohen Financial and head of the company’s equity practice, and Matt Grant, vice president, working with Artis Advisors secured the financing from a New York private-equity firm. The borrower is Red Development. The transaction closed in the second quarter.
© 2013 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or firstname.lastname@example.org