SomeraRoad Inc. has refinanced the Lightwell office tower in downtown Kansas City after completing a $21 million renovation of its lobby and common areas in 2021.
The New York real estate development and investment firm recently secured new debt from Security Bank of Kansas City, backed by the 30-story building at 1100 Main St. The landlord obtained financing in an original principal amount of $63 million, according to a Dec. 19 leasehold deed of trust.
SomeraRoad said its new loan will capitalize future tenant improvements and buildout costs at Lightwell, allowing the building to reach full occupancy by continuing to attract and retain tenants.
Lightwell signed 11 new tenants in 2022, including nine company office leases and two new ground-floor food and beverage users, with recently opened locations for Made In KC Café and Strang Chef Collective. Three more office tenants, or all but one that were up for renewal last year, also were signed for additional lease term.
“Lightwell’s mission of providing best-in-class office space has made it uniquely positioned to serve tenants seeking a flight to quality,” Grant Hromas, new vice president of development with SomeraRoad in Kansas City, said in a statement. “We are exclusively focused on providing the best tenant experience in Kansas City, exhibited by our phenomenal leasing momentum in 2022. We are privileged to have strong local partners, including Security Bank of Kansas City and the exceptional leasing and property management teams at AREA Real Estate Advisors led by Tim Schaffer, Sean Craven, Hank Simpson and Dawna Garza.”