Berkadia closed $20.5 million in financing for Summit Crossing Phase II, a townhome-style multifamily property in Kansas City, Missouri.
Managing Director John Schorgl of Berkadia’s Kansas City, Missouri, office secured the refinancing on behalf of the borrower, Missouri-based Worcester Investments. The deal closed Oct. 29.
The 10-year Fannie Mae loan features a fixed interest rate in the low threes, with three years of interest-only payments and a 30-year amortization schedule.
Located at 14500 E. Bannister Road, Summit Crossing Phase II features one-, two- and three-bedroom floor plans with granite countertops, stainless-steel appliances, walk-in closets and hardwood flooring. Community amenities include two playgrounds, two pools, a business center, a pickleball court, a soccer field and a fitness center. Residents are afforded convenient access to Cave Spring Park and the shopping at Summit Woods Crossing.
