Corporate Woods under contract for buyer, sources say

Corporate Woods, a 22-building, 2.2 million-square-foot office park in Overland Park, Kansas, is under contract, multiple sources are reporting.

Some are reporting that the prospective buyer is Group RMC Corp., a New York based co-investment and management firm co-founded by Canadian real estate investors Raymond Massa and his son, Alex.

Neither could be immediately reached, but if their firm completes the deal for Corporate Woods, it would be Group RMC’s second big purchase within Overland Park’s College Boulevard corridor.

Last year, Group RMC acquired an 806,864-square-foot portfolio that included five office towers and two mixed-use towers. The sale price was $94 million, or $116.50 a square foot.

If Corporate Woods fetches the same price per foot, its total price tag would be $256.3 million.

Sources who indicated that the prospective buyer is Group RMC said that it would be using equity from high-net-worth investors in Canada, Dubai and elsewhere to help finance the purchase.

Read more: Kansas City Business Journal

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