IN-DEPTH: Gaw acquires stake in downtown Kansas City
Gaw Capital Partners has acquired a stake in a downtown Kansas City, Mo., office building from Executive Hills Management. Here’s an in-depth look at the deal.
The transaction is a debt-for-equity swap deal. The Executive Hills Management–led venture sold a partial stake in One Kansas City Place.
The Los Angeles branch of Hong Kong–based Gaw Capital acquired a stake in the downtown office in a recapitalization that included buying the $86.7 million of debt against the 822,391-square-foot property from Lehman Brothers Holdings at a 20 percent to 25 percent discount. Other financial details of the deal were not disclosed.
One Kansas City Place is considered the tallest building in downtown Kansas City. Built in 1988, the 624-foot tower was designed by Patty Berkebile Nelson &am