Mariner Corporate Center

Overland Park, KS

In 2016, Advalurem completed the recapitalization of Mariner Corporate Center, a to-be-completed, 150,000 square feet office building located within the Kansas City MSA in Overland Park, KS. Advalurem Group responded to the partnership’s need for equity to fully capitalize the project and close construction financing. The property achieved substantial completion in February 2017.

The property is located in Overland Park, home to the headquarters of Sprint, AMC Theatres, and Black & Veatch. The Kansas City metro displays healthy fundamentals presenting corporate expansion opportunities in growing submarkets like Overland Park. At the time of recapitalization, the property was 40% pre-leased to Mariner Holdings Inc, a $40 billion global financial services firm. The office building is LEED-designed and features state-of-the-art amenities and excellent visibility.

The business plan calls for the lease-up of the remaining space and the refinancing of the construction loan upon stabilization. Advalurem structured its co-investment with certain economic and voting rights in order to liquidate its investment over an intermediate term. Advalurem expects to hold the investment for seven years with an overall return in the mid-teens.

Asset Quality
Loan To Value

Investment Highlight 1

Strategic location

Overland Park benefits from an educated workforce, affluent population base, good transportation networks, tops schools, and low taxes.

Investment Highlight 2

Institutional Quality Asset

Situated on 7.1 acres, the property is built to LEED standards and offers unparalleled amenities with sweeping views of the surrounding area.

Investment Highlight 3

Credit Tenancy

More than 40% of the building was leased to Mariner Holdings, a $40 billion global services firm.