Roers Investments LLC is a fast growing, Minnesota-based real estate investment and development company. Serving as outside general counsel, Minneapolis partner Anne Cotter and a team of Stinson attorneys have worked closely with founders Kent Roers and Brian Roers on structuring and financing for their development of nearly a dozen multifamily, student housing and senior living real estate projects in the past 18 months. Roers ended 2016 with a total portfolio comprising nearly $400 million worth of development across 20 + projects, with more than 1,800 apartment units. Roers also provides property management for its portfolio together with third-party management of 350 units and more than 135,000 square feet of commercial/industrial space. In 2017, Roers will complete construction on five projects while pursuing new developments to construct over 800 apartment units in five cities across three states.
The Kansas City Royals Major League Baseball organization is the driving force behind the development of a state-of-the-art baseball complex, located next to the Negro League Baseball Museum, that will soon be home to the Kansas City Urban Youth Academy. When completed, the facilities will serve 1,000 children ages 6 to 18 participating in free baseball, softball, educational and vocational programs.
The first of the $14 million project’s two phases—consisting of three baseball fields and one softball field, a walking trail, relocated basketball courts, relocated and renovated tennis courts and a relocated playground near the community center—opened in the fall of 2016.
The second phase will include a 50,000-square-foot indoor facility with a turf infield, batting cages, pitching mounds, restrooms, concession facilities, an event space and additional parking. Led by Partner Dave Frantze, Stinson serves as real estate counsel to the Kansas City Urban Youth Academy.
We represent Cerner Corporation, a national leader in health care technology, in the proposed redevelopment of the former Bannister Mall site, one of the biggest real estate redevelopment projects in Kansas City’s history. The redevelopment encompasses a 4.7-million-square-foot mixed-use campus, which is anticipated to create approximately 16,000 new jobs. The state and local incentives associated with the project include:
- $773.8 million for the project to come from tax increment financing, which will capture all new property taxes and half of economic activity taxes generated by the project for 23 years
- $317.2 million to come from “super” TIF, which captures the other half of the economic activity taxes generated
- $654.4 million in state supplemental TIF
We represent EPR Properties (NYSE: EPR), a specialty real estate investment trust with total investments exceeding $4.7 billion in the entertainment, recreation and education segments, in all facets of its real estate needs.