Berkadia secured financing for Flashcube, a 184-unit high-rise multifamily property in Kansas City, Missouri.
Managing Director John Schorgl of Berkadia Kansas City secured $35 million in refinancing on behalf of the borrower, Missouri-based Worcester Investments. The deal closed Nov. 12.
The two-year bridge loan financed through Berkadia features a floating interest rate and is interest only.
Located at 720 Main St., Flashcube features studio, one-, two- and three-bedroom floor plans with in-unit washers and dryers, walk-in closets and air conditioning. Community amenities include a fitness center, a dog park, a tennis court and a lounge. Residents are afforded convenient access to the Missouri River, downtown Kansas City and Interstate 70.