Stinson Advises Parkway Corporation in Acquisition of Downtown Kansas City Property

08.19.2024

Stinson LLP served as local counsel to Parkway U.S. Land Carry Fund I, LP, an affiliate of Parkway Corporation, a Philadelphia-based parking operator and real estate developer, in the successful acquisition of a 69-space surface lot in downtown Kansas City, Missouri.

Stinson Partners Christopher Frantze and Timothy Laycock and associate James Mosimann III negotiated with the seller of the lot, which is strategically located by several city and regional landmarks, to secure the acquisition. The attorneys also advised Parkway on permitting requirements and city regulations to facilitate the acquisition.

Parkway's downtown Kansas City acquisition is part of a national strategy to invest in high-quality parking locations in markets with exceptional economic and business characteristics. This platform is focused on acquiring surface parking lot facilities that have current operating cash flows where a higher or better use may be achievable over a longer time horizon. The Fund is executing a capital improvement and operating plan that will elevate the property and enhance the parking experience for both community members and visitors.

Stinson's real estate attorneys provide strategic counsel on sophisticated transactions throughout regional and national markets and across a variety of industries, including commercial, retail, office, mixed-use, industrial and residential development. Attorneys leverage deep industry knowledge and experience to fuel growth and help clients drive their real estate ventures forward.

Read Parkway's press release to learn more about the acquisition.