Berkadia today provided $15 million in financing for Cedar Ridge, a garden-style multifamily property in Independence, Missouri. Managing director Andy Ahlers of Berkadia’s San Francisco office secured the loan on behalf of the borrower, San Francisco-based Cedar Ridge Apartment Homes LLC. The deal closed on July 31.
The 15-year Fannie Mae refinance loan features a fixed interest rate below 4 percent and interest-only debt service payments for the entire term.
Cedar Ridge features one-, two- and three-bedroom floor plans with central heating and air conditioning, dishwashers, skylights and modern finishes. Community amenities include a playground, a tennis court, laundry facilities, a clubhouse, a community garden and organized activities.
