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KANSAS CITY, KS-Knickerbocker Properties Inc. XXI has closed on a 10-year, $150-million fixed-rate loan for Corporate Woods, a 135-acre master-planned office development in Overland Park that comprises 2.2 million sf of Class A and B office space in 21 buildings as well as land for future development.

Knickerbocker Properties Inc. XXI is 100% owned by a public pension fund advised by ING Clarion Partners. Northwestern Mutual provided the funding for the low-leverage loan, which paid off existing debt. Mike Melody in L.J. Melody & Co.’s Houston office secured funding for this transaction.

Located 13 miles southwest of the Kansas City CBD at the confluence of Interstate 435 and U.S. Highway 69, Corporate Woods is home to corporate tenants including Wyeth, EDS, Proctor & Gamble, Metropolitan Life Insurance and Midland Loan Services. The development sits next to a 52-acre city park and a 357-room Doubletree hotel.

“It is considered one of the premier parks in the Kansas City region,” Melody tells GlobeSt.com.

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