KANSAS CITY, Mo. – January 11, 2019 – Berkadia today announced $30 million in acquisition financing for 909 Walnut, a high-rise multifamily property in Kansas City, Missouri. Managing Director John Schorgl of the Kansas City, Missouri office secured the loan on behalf of Worcester Investments, based in Missouri, through Fannie Mae. The deal closed on December 21.
The 12-year permanent acquisition financing features an attractive interest rate, an interest-only period and a 30-year amortization schedule.
“This was a tricky deal due to the fact that the total purchase included the tower (909 Walnut), the parking garage (915 Walnut) and the office building (929 Walnut), financed by different lenders,” said Schorgl.
Located at 909 Walnut St., the property offers luxurious one- and two-bedroom floor plans with granite countertops, stainless steel appliances and hardwood floors. The property also features a rooftop garden, a fitness center and a private parking garage. 909 Walnut is well located in downtown Kansas City between River Market and the Power and Light District, affording convenient access to the River Market farmers market, the Sprint Center and the Kaufmann Center for Performing Arts.