KANSAS CITY, Mo. — May 25, 2021 — Berkadia announced today the financing secured for Staley Crossing, a 177-unit townhome-style, multifamily property in Kansas City, Missouri. Managing Director John J. Schorgl of Berkadia Kansas City, Missouri secured the $22.7 million in refinancing on behalf of the borrower, Missouri-based Worcester Investments. The deal closed on May 25.
The 12-year loan was secured through Freddie Mac and features an interest rate below four percent.
“We were able to secure this long-term, cash-out refinance on an asset with two HOA’s, which can be tricky,” said Schorgl.
Located at 9400 North Baltimore Ave., Staley Crossing features three-bedroom floor plans with nine-foot ceilings, stainless steel appliances, balconies and granite countertops. Community amenities include keyless entry and garage parking. The property affords convenient access to nearby parks, public transportation and the shops and restaurants along N Oak Trafficway, Route 152 and Route 169.